Bulletin
2001/1 - 23 February 2001
The Chairman of the Financial Reporting Council (FRC), Mr Paul Rizzo, today announced that he has written to the Treasurer tendering his resignation as Chairman and a member of the FRC with effect from 22 February 2001.
The FRC is the peak body responsible for the broad oversight of the accounting standard setting process for the private and public sectors. It comprises key stakeholders from the business community, the professional accounting bodies, governments and regulatory agencies.
Mr Rizzo said that he had very much enjoyed his period as Chairman, effectively starting in September 1999, particularly as it had provided the opportunity to guide Australia's new accounting standard setting arrangements through their establishment phase. He was pleased that the machinery was now in place and operating effectively. The major challenge ahead is to engage Australia with the new international standard setting arrangements now being established by the International Accounting Standards Committee and work towards the adoption of a single set of accounting standards for world-wide use.
While he would have liked to have participated in that process, Mr Rizzo said, a review of his commitments following his recent move from Telstra to the Melbourne Business School had prompted his decision to leave the Council.
The FRC will continue to operate under its Deputy Chairman, Mr Michael Ullmer, until the Treasurer appoints a new Chair.
For further information, please contact the secretariat of the Financial Reporting Council, c/- The Treasury, Langton Crescent, Parkes ACT 2600.
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Mr Michael Kooymans |
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Ph: |
(02) 6263 3984 |
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Fax: |
(02) 6263 2770 |
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E–mail: |
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