Media Release
2010 / 02 – 10 September 2010
Expressions of interest are being sought to fill vacancies on the AASB and AUASB
The Financial Reporting Council (FRC) is seeking expressions of interest from people wishing to fill part-time vacancies on the Auditing and Assurance Standards Board (AUASB) and the Australian Accounting Standards Board (AASB) which will become available during 2010-11.
Board members of the AASB and the AUASB are responsible for developing, issuing and maintaining accounting and auditing standards, respectively. Accounting and auditing standards promote transparency and consistency and are a critical element of Australia’s sound financial reporting framework. The setting of standards has a wide ranging impact on Australia’s capital markets as well as the not‑for‑profit and public sectors.
Participating as a board member provides a unique opportunity for an appropriately qualified person to contribute to leading edge developments in accounting and auditing standards and to play a positive role in Australia’s financial reporting environment.
The boards operate within a global context and provide valuable input and influence over the development of international standards and their application to the Australian legal framework.
The boards are comprised of a range of people with particular skills, incorporating experience in business, accounting, auditing, law, academia or government.
Prospective board members would usually be senior members in their respective area of employment/engagement and would have specialised qualifications in their field of endeavour.
Applicants should have specific technical skills in their relevant area of expertise. Such technical skills need to be accompanied with an ability to conceptualise the overarching public benefit provided by standards.
Individuals should be able to communicate with influence in presenting and debating material amongst their fellow board members. Applicants must have strongly developed interpersonal skills to work collaboratively to reach decisions.
People who join the boards are expected to thoroughly understand the topics of discussion and have access to resources that will assist in their contribution to the debate. Board members attend eight to ten meetings per year, sometimes over several days per meeting. Involvement in sub-committees and attendance at relevant meetings is also expected. Additionally, time needs to be set aside for reading and researching the topics.
Sitting fees and other expenses are paid in line with government regulations and can be found on www.frc.gov.au . Significant additional time input is required in reading and researching for each meeting.
Expressions of interest should address the selection criteria, as set out on the FRC website, and be submitted by 5 October 2010 to:
Klaus Zimmermann
Chairman, FRC Nominations Committee
C/- The Treasury, Langton Crescent
Parkes ACT 2600
Attention: Darinka Zubovic
Expressions of interest can also be faxed to (02) 6263-2770 or emailed to Darinka.Zubovic@treasury.gov.au.