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New appointments to Australia's FRC

15 May 2012

The Parliamentary Secretary to the Treasurer of the Australian Federal Government, the Hon Bernie Ripoll MP, has announced the appointment of Ms Belinda Gibson and Mr Ian Purchas as Members of the Financial Reporting Council (FRC).

Under Australia's corporate law, the FRC is responsible for overseeing the effectiveness of the financial reporting framework in Australia.

Ms Gibson was nominated by ASIC, of which she is the Deputy Chairman. Her responsibilities at ASIC include the supervision of corporations (and consequently their financial reporting practices), as well as the financial reporting and audit and insolvency practitioner teams within ASIC.

Mr Purchas was nominated by the Institute of Public Accountants. He is a Principal at RMG Partners Business Solutions, a Sydney-based insolvency and accounting practice, and is a Registered Liquidator and an Official Liquidator of the Supreme Court of NSW and Federal Court of Australia.

Click for press release (link to Australian Treasury website).