I am pleased to announce the appointment of Mr Andrew Fleming as a part-time member of the Financial Reporting Council (FRC) for a three-year period.
Mr Fleming, who was nominated by the Financial Services Council, is currently the Deputy Head of Australian Equities at Schroders Investment Management Australia Limited, and has previously held positions at several investment banks, including Credit Suisse, Morgan Stanley and Merrill Lynch. He also has a relevant academic background in financial reporting, as well as work experience in several large firms.
The FRC has responsibility for overseeing the effectiveness of the financial reporting framework in Australia. Members of the FRC are appointed under section 235A of the Australian Securities and Investments Commission Act 2001 (ASIC Act) on terms and conditions determined by the Minister.
The FRC has a wide range of stakeholders including a broad spectrum of preparers and users of financial statements, the Commonwealth as well as State and Territory governments, and other government bodies such as standard setters and regulators. Key stakeholder bodies are represented on the FRC as Members. In addition, the Australian and New Zealand governments have established cross-appointment arrangements to promote closer economic relationships between the two countries. The FRC accordingly has a New Zealand representative as one of its Members.
The FRC has 19 part-time members, including the Chairman and the New Zealand appointee.
24 October 2011