External Reporting Board appointments announced

Thursday 31st March 2011 1 Comment

Commerce Minister Simon Power has today announced the members of the soon-to-be established External Reporting Board (XRB).

The XRD supersedes the Accounting Standards Review Board (ASRB) but will have a much broader range of powers. It will be responsible for all aspects of financial reporting and for accounting and auditing standards-setting.

The XRB board will be led by ARSB chair Kevin Simpkins.

The board members are Neil Cherry, the chair of NZICA's Professional Standards Board, Graeme Micthell, a member of the NZICA's Professional Conduct Committee, investment analyst and accountant Annabel Cotton, chartered accountant Simon Carey, deputy chair of the ARSB Michele Embling, Bell Gully partner Ralph Simpson and Chief Accountant at the Treasury, Ken Warren.

All of them, excluding Cherry and Cotton who have been appointed for five year terms, are members of the ASRB.

"The continuity of experience from the current ASRB members will be crucial to the success of the inaugural External Reporting Board," Power said.

"The collective experience of this group in strategy, governance and oversight will help the board get off to a strong start."

The XRB will begin operations on July 1.

Comments from our readers

On 31 March 2011 at 3:09 pm Simon Hassan said:

Congratulations to XRB appointees. It is great to think that the wider remit of this new body will see fund managers, financial advisers and others who look after other people's money held to clearer, investor-focused, uniform standards for reporting on investment returns, and associated costs.