Bulletin
2005 / 6 – 25 November 2005
The Deputy Chairman of the Financial Reporting Council (FRC), Ms Elizabeth Alexander AM, today announced that Mr Kevin Simpkins has been engaged by the Council to undertake research into how adequately a ‘sector neutral’ approach to the development of accounting standards can meet the information needs of users of financial statements and the public interest more generally.
Mr Simpkins was Deputy Controller and Auditor-General of New Zealand for three years until May 2005, having previously held other positions in the Office of the Auditor-General, Ernst & Young and the New Zealand Institute of Chartered Accountants, where he was Technical Director. He was a member and Deputy Chair of the Financial Reporting Standards Board until 2002 and a member of the (now) International Public Sector Accounting Standards Board until 2003. Mr Simpkins has a long record of involvement in the not-for-profit sector. His recent work includes monitoring the IASB Conceptual Framework project for a group of world standard-setters.
The purpose of the research project is to assist the FRC in considering modifications to its strategic direction to the AASB, especially in relation to the public sector.
It is anticipated that the research project will be submitted to the FRC around the middle of 2006.
Parties with a strong interest in the issue of sector neutral standards are invited to register with Mr Peter Taft of the FRC Secretariat (ptaft@treasury.gov.au).
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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.