Bulletin
2009 / 07 – 6 November 2009
The Financial Reporting Council (FRC) today announced the reappointment of members to the Australian Accounting Standards Board (AASB) and the Auditing and Assurance Standards Board (AUASB).
AASB members who have been re‑appointed on a part‑time basis from 1 January 2010 until 31 December 2012, are:
- Ms Sue Highland, Director, Financial Management Branch, Queensland Treasury;
- Ms Kris Peach, Partner, KPMG; and
- Ms Joanna Perry, Chair, New Zealand Financial Standards Reporting 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.
In addition, the following AUASB members have been re‑appointed on a part‑time basis from 1 January 2010 until 31 December 2012:
- Ms Dianne Azoor Hughes, Partner, Pitcher Partners; and
- Mr Clive Mottershead, Partner, Deloitte Touche Tohmatsu.
All of the re-appointments to the Boards were approved by the FRC at its 21 September 2009 meeting, on recommendation of the FRC Nominations Committee.
In addition to the experience and qualities demonstrated by applicants to the Boards, other factors considered by the FRC in making these reappointments included:
- the optimal number of Board members to balance a range of skills and background with efficiency and effectiveness;
- the requirement that members appreciate the public interest perspective in standard setting, and have the capacity to work for the overall public good, ahead of sectional or vested interests;
- 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 Jeffrey Lucy AM, and the Chairman of the FRC Nominations Committee, Mr Klaus Zimmermann, congratulate the re‑appointed members.
About the FRC
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. A list of the current FRC membership is on the FRC's website.
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.
Ms Genevieve Watson
Ph: (02) 6263 3144 Fax: (02) 6263 2770
email: frcsecretary@treasury.gov.au
or visit the FRC's website at www.frc.gov.au.