Interest Rates – Interview with Steve Liebmann, Today Show, Channel 9

November 5, 2003

Address to 138th Victorian State Council, Shepparton

November 8, 2003

Appointment of Chair of the Australian Accounting Standards Board

November 6, 2003

NO.093

APPOINTMENT OF CHAIR OF THE AUSTRALIAN ACCOUNTING STANDARDS BOARD

I am pleased to announce the appointment of ProfessorÂ David Boymal as full-time

Chairman of the Australian Accounting Standards Board (AASB). ProfessorÂ Boymal’s

appointment is for a period of five years.

The AASB is the Commonwealth statutory body responsible for setting accounting

standards for companies, not-for-profit entities and the public sector. The

Chairman of the AASB is appointed by the Treasurer.

Professor Boymal will bring a strong mix of leadership, managerial skills

and technical understanding to the position of AASB Chairman. He has been

involved in both domestic and international accounting standard setting. From

1991 to 1999 he served as a part-time member of the AASB and, during the latter

part of that period, held a standing appointment as the Board’s Acting

Chairman. Previously he had been a member of predecessor accounting standard

setting boards and, from 1988 to 1990, was the only Australian on the International

Accounting Standards Committee, predecessor of the present-day International

Accounting Standards Board.

He is a past National President of CPA Australia and more recently from 2001

to 2002 was the Australian representative on the Board of the International

Federation of Accountants.

Professor Boymal recently retired as a senior partner of Ernst and Young

after a long and distinguished career with the firm. In his professional capacity,

he has earned standing within the accounting profession and support from the

wider business community.

Professor Boymal’s term will span a very important, dynamic and challenging

period for the AASB. As Chairman, Professor Boymal’s position will be

key to achieving a smooth transition to the adoption by Australia of international

accounting standards for Corporations Act reporting entities for financial

periods commencing on or after 1Â January 2005. He will also have a central

role in the harmonisation of Government Finance Statistics and Generally Accepted

Accounting Principles (GAAP) for the public sector.

A copy of Professor Boymal’s curriculum vitae is attached.

CANBERRA

6 November 2003

Contact: David Alexander

(02) 6277 7340

DAVID GARY BOYMAL

Qualifications:

Bachelor of Commerce (University of Melbourne)

Advanced Management Program (University of Melbourne)

Fellow of The Institute of Chartered Accountants in Australia

Fellow and life member of CPAÂ Australia (which was originally known

as the Australian Society of Accountants)

Registered Company Auditor

Adjunct Professor (RMIT University, Melbourne)

Present positions:

Consultant (retired from Ernst and Young in June 2003)

Chairman, Course Advisory Board, Faculty of Business and Law, Deakin

University (since 1997)

Member, Advisory Board, School of Accounting and Law, RMITÂ University

(since 1994)

Past experience:

Partner, Ernst and Young (and predecessor firms) (1971-2003)

National Director, Accounting and Auditing Standards, for E&Y
and a predecessor firm (1985-2002)
National Director of Auditing for a predecessor firm (1982-85)

Independent Auditor of the Australian National Audit Office (1993-98)

National President, CPAÂ Australia (1998-99)

Australian representative and member, board of directors, International

Federation of Accountants (2000-02)

Australian representative, International Accounting Standards Committee

(predecessor of the International Accounting Standards Board) (1988-90)

Member, Australian Accounting Standards Board (1991-99)

Member, Urgent Issues Group (1995-97)