Australian Accounting Standards Board
Applications for appointment as a member
The Australian Accounting Standards Board (AASB) is an independent Commonwealth entity established under the Australian Securities and Investments Commission Act 2001. Its functions include developing, issuing and maintaining accounting standards for Australia and participating in and contributing to the development of a single set of international accounting standards.
The AASB typically holds seven two day meetings a year, plus occasional meetings on a needs basis. Involvement in Project Advisory Panels and attendance at related meetings is also expected. A secretariat, located in Melbourne, provides the Board with technical and administrative support.
Appointments are made by the Financial Reporting Council (FRC) for a maximum of 3 years, with the possibility of extensions for a maximum of 2 further terms. To be re-appointed for the third term, members need to re-apply. The FRC may decide to reappoint for the second term without calling for other nominations.
There is currently one vacancy. The FRC is seeking to appoint an individual who has significant academic experience, particularly conducting and evaluating empirical research in a business related area. Published articles relating to application of accounting standards should be highlighted in the application. Expertise in the Conceptual Framework, financial instruments, insurance, or valuation of non-financial assets would be valuable.
Applications submitted must address the selection criteria, a copy of which is available below or on the AASB website. Further information about the position, the framework for appointment to the AASB, remuneration and allowances is available at the AASB website.
The FRC is the peak body responsible for overseeing the effectiveness of the financial reporting framework in Australia. The FRC, which comprises key stakeholders in the accounting and auditing standard setting process, is responsible for appointing members of the AASB (other than the Chair) and is seeking applications from people wishing to fill part-time vacancies on the AASB. It is expected that the successful applicant will be appointed from 1 May 2017.
The successful applicant will be able to demonstrate the following:
- Understanding of the AASB’s functions and powers as set out in the Australian Securities and Investments Commission Act 2001.
- Ability to balance strategic and policy considerations with technical accounting issues.
- Appreciation of the importance of the overall public good relative to sectional or vested interests.
- Understanding of the needs of users and the external reporting environment in the for-profit, not-for-profit and public sectors. Ability to apply technical knowledge to practical issues, including understanding issues for smaller entities and practitioners.
- Ability to communicate clearly and concisely, both verbally and in written format. Ability to work as a collegiate board member, respecting differing points of view.
- Development and maintenance of strong professional networks and relationships. Ability to provide appropriate technical and practical input to board deliberations and to commit adequate time to board meetings and advisory group meetings.
- An established track record of publishing high quality research in accounting and finance journals.
- Relevant accounting knowledge and experience (which may include tertiary education, general management and business, valuation, analyst/investor or public sector experience).
Applications should be addressed to:
FRC Nominations Committee
C/- Treasury Melbourne
GPO Box 2936
MELBOURNE VIC 3001
ATTENTION: Jane Holmes
Applications may be emailed to firstname.lastname@example.org. A confirmation of application received will be sent to all applicants.
Applications are sought by 11pm Monday 13 March 2017.
Should you wish to discuss further details of these positions, please contact the Chair of the FRC Nominations Committee or FRC Secretary via email: email@example.com