The Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP, today announced the reappointment of Ms Merran Kelsall as the Chairman of the Auditing and Assurance Standards Board (AUASB) for a further three-year term.
The AUASB is an independent, statutory agency, responsible for developing, issuing and maintaining auditing and assurance standards under the Australian Securities and Investments Commission Act 2001.
Mr Bowen said the AUASB played a crucial role in ensuring Australia's auditing framework remained first-class.
"I congratulate Ms Kelsall on her reappointment and look forward to her continuing her important work at the helm of the AUASB," Mr Bowen said.
Ms Kelsall has been the part-time Chairman of AUASB since 2004. During her tenure, she has overseen a number of reforms and initiatives, including the restructuring of the AUASB under the Financial Management and Accountability Act 1997 and the redrafting of the entire suite of the Australian Auditing Standards in Clarity format.
Ms Kelsall originally qualified as a chartered accountant and practised in the profession for 20 years, including 10 years as a partner at BDO. She has considerable directorship and corporate governance experience, including working in audit, risk and compliance committees.
Ms Kelsall's new three-year term will commence on 10 August 2010.
CANBERRA
16 July 2010