Bulletin
2004/6 – 13 August
The Financial Reporting Council (FRC) today announced the appointment of members of the reconstituted Auditing and Assurance Standards Board (AUASB). The Chairman of the AUASB, Ms Merran Kelsall, was appointed by the Treasurer on 10 August 2004 (http://www.treasurer.gov.au/tsr/content/pressreleases/2004/065.asp).
The FRC Chairman, Mr Charles Macek, has congratulated the newly appointed members. The members will join the Board during a very important period for the AUASB as it begins to advance its new role of adopting international best practice auditing standards which will have the force of law under the new regime established by the Government’s Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004, which came into effect on 1 July 2004.
The FRC has agreed to appoint board members of the former AuASB, as set out below, to the reconstituted AUASB for the remaining term of their former appointments to the AuASB. However members whose terms expired upon the establishment of the AUASB have been appointed until 30 June 2005, in line with the in-principle agreement of the FRC at its 27 February 2004 meeting. Mr Ian McPhee has been appointed until 31 December 2005, to coincide with the end of his current term at the International Auditing and Assurance Standards Board (IAASB).
AUASB members, appointed on a part-time basis on 12 August 2004, are:
- Mr Gavin Campbell - Company Representative. Appointed until 31 December 2004.
- Mr Graham Ezzy - Senior Audit Partner, Ernst & Young. Appointed until 31 December 2004.
- Mr Kevin Neville - Managing Partner, Moore Stephens HF. Appointed until 31 December 2004.
- Mr Paul Shannon - Partner of KPMG. Appointed until 31 December 2004.
- Associate Professor Grant Gay – Associate Professor, Monash University. Appointed until 31 December 2004.
- Mr Bob Sendt - Auditor-General of New South Wales. Appointed until 30 June 2005.
- Mr Clive Mottershead - Partner, Deloitte Touche Tohmatsu – Assurance and Advisory Services. Appointed until 30 June 2005.
- Professor Keith Houghton - Dean and Professor of the Faculty of Economics and Commerce, Australian National University. Appointed until 31 December 2005.
- Mr Ian McPhee - Deputy Secretary, Financial Management Group, Department of Finance and Administration. Appointed until 31 December 2005.
The appointments have been agreed to by the FRC through circular resolution, following the recommendations made by the FRC Nominations Committee at its meeting on 15 July 2004.
For further information, please contact the Secretariat of the Financial Reporting Council, c/- The Treasury, Langton Crescent, Parkes ACT 2600.
Mr Jorge del Busto
Ph: (02) 6263 3144
Fax: (02) 6263 2770
E-mail:
jdelbusto@frc.gov.au
or visit the FRC’s website at www.frc.gov.au.