Bulletin
2006 / 10 – 21 December 2006
The Financial Reporting Council (FRC) today publicly announced new appointments and re-appointments of members to the Australian Accounting Standards Board (AASB) and the Auditing and Assurance Standards Board (AUASB).
Ms Sue Highland, Director, Financial Management Branch of the Queensland Treasury, has been appointed to the AASB on a part-time basis for a term commencing on 15 February 2007 until 31 December 2009.
AASB members, re-appointed on a part-time basis, are:
- Ms Kris Peach, Partner, KPMG (Term from 15 February 2007 until 31 December 2009).
- Mr Brett Kaufmann, Manager, Accounting Policy Branch, Commonwealth Department of Finance and Administration (Term from 15 February 2007 until 31 December 2008); and
- Ms Joanna Perry, Chair of the New Zealand Financial Reporting Standards Board
(Term from 1 January 2007 until 31 December 2009, subject to her maintaining her position as Chair of the New Zealand Financial Reporting Standards Board).
The re-appointment of Ms Joanna Perry is consistent with the objective of developing closer Trans-Tasman ties on accounting issues between Australia and New Zealand.
AUASB members, reappointed on a part-time basis, are:
- Ms Dianne Azoor Hughes, National Technical Director, Pitcher Partners
(Term from 1 January 2007 until 31 December 2009); and - Mr Clive Mottershead, Partner, Deloitte Touche Tohmatsu
(Term from 1 July 2007 until 30 June 2009).
As a consequence of these appointments, Ms Highland will replace Mr Ken Leo on the AASB from February 2007. The Council noted that following the retirement of Mr Leo, the AASB would no longer contain an accounting academic, and resolved to give strong consideration to rectifying this matter at the earliest available opportunity. There is no change to the membership of the AUASB.
Appointments to the Boards were agreed to by the FRC at its 8 December 2006 meeting, following recommendations made by the FRC Nominations Committee.
In addition to the experience and qualities demonstrated by applicants to the Boards, factors considered by the FRC in making these appointments and reappointments included:
- a desire to boost the expertise of the AASB on public sector accounting issues; and
- the need for the AUASB to maintain its proficiency in respect of issues pertaining to medium sized and small auditing practices.
The FRC Chairman, Mr Charles Macek, and the Chairman of the FRC Nominations Committee, Mr Klaus Zimmermann, congratulate the newly appointed and re-appointed members, and thank all of those who expressed interest in serving on the Boards.
----------------------
The FRC is the peak body responsible for the broad oversight of the accounting and auditing standard setting process for the private and public sectors, as well as monitoring the effectiveness of auditor independence requirements in Australia. It comprises key stakeholders from the business and investing communities, the professional accounting bodies, governments and regulatory agencies. The FRC advises the Government on the accounting and auditing standard setting process and on the development of international accounting and auditing standards. It determines the broad strategic direction of the standard setters, the Australian Accounting Standards Board and the Auditing and Assurance Standards Board.
For further information, please contact the Secretary of the Financial Reporting Council
c/- The Treasury, Langton Crescent, Parkes ACT 2600.
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.
----------------------
ATTACHMENT
MEMBERS OF THE FINANCIAL REPORTING COUNCIL
Members:
- Mr Charles Macek, Company Director — FRC Chairman (appointed as Chairman by the Treasurer and nominated as an FRC member by the Securities Institute of Australia);
- Ms Elizabeth Alexander, AM, Adviser to Blake Dawson Waldron — FRC Deputy Chairman (appointed as Deputy Chairman by the FRC — nominated by the Commonwealth);
- Mr Bruce Brook, Company Director, Melbourne, Victoria — nominated by the Business Council of Australia;
- Ms Kathryn Campbell, Deputy Secretary, Financial Management Group, Department of Finance and Administration — nominated by the Commonwealth;
- Mr Don Challen, Secretary, Tasmanian Department of Treasury and Finance — nominated by Heads of State and Territory Treasuries;
- Mr Michael Coleman, Partner, KPMG — nominated by the Australian Institute of Company Directors;
- Mr Mark Coughlin, Development Manager, Origin Energy — nominated by CPA Australia;
- Mr John Gethin-Jones, General Manager, Queensland Investment Corporation — nominated by Investment & Financial Services Association;
- Mr Richard Humphry, AO, Trustee, International Accounting Standards Committee Foundation;
- Mr Warwick Hunt, Chairman, Accounting Standards Review Board of New Zealand — nominated by the New Zealand Minister of Finance;
- Mr David Jackson, Director, Australian Shareholders’ Association — nominated by the Australian Shareholders’ Association;
- Mr Eric Mayne, Group Executive, Market Supervision, Australian Stock Exchange — nominated by the Australian Stock Exchange;
- Mr Jim Murphy, Executive Director, Markets Group, Department of the Treasury — nominated by the Commonwealth;
- Mr John Stanhope, Chief Financial Officer and Group Managing Director, Finance and Administration, Telstra Corporation Limited — nominated by the Group of 100 Inc;
- Ms Catherine Walter, AM, Company Director and Solicitor; Chair of the Business Regulation Advisory Group — nominated by the Commonwealth;
- Ms Jan West, Partner, Deloitte Touche Tohmatsu — nominated by The Institute of Chartered Accountants in Australia;
- Mr Lee White, Chief Accountant, Australian Securities and Investments Commission — nominated by ASIC;
- Mr Klaus Zimmermann, Chief Executive Officer, Eldercare Incorporated and Director, National Institute of Accountants — nominated by the NIA.