Accounting Standards Review Board appointments

.Michele Embling, Simon Carey, and Graeme Mitchell have been appointed to the Accounting Standards Review Board, Commerce Minister Simon Power announced today.

"I'm very pleased to announce that Michele Embling has been appointed as the new Deputy Chair, and Simon Carey and Graeme Mitchell as new members of the Accounting Standards Review Board (ASRB)," Mr Power said.

"The combined expertise and knowledge of these three appointees in large companies, small and medium-size entities, and the not-for-profit sector will complement the skills of the existing members.

"The board is well placed to consider financial reporting issues across the economy."

All three have been appointed for fiv-year terms, with Mrs Embling and Mr Carey filling two vacant positions on the board. Mr Mitchell will succeed Professor Fawzi Laswad when his term expires in February next year.

Background information on the new members and the Accounting Standards Review Board follows.

Michele Embling is a partner with the New Zealand firm of PricewaterhouseCoopers. She has expertise in large companies and has knowledge and experience in both public sector and not-for-profit financial reporting issues.

Simon Carey is a partner with Grant Thornton (Christchurch) Ltd. He has more than 18 years' experience as a business adviser, and is a specialist in the issues faced by small and medium-size entities.

Graeme Mitchell is a former Chair and member of Deloitte's Board of Partner, and has a long background as an auditor of private and public sector entities. He has extensive expertise in the area of large company accounting issues.

The Accounting Standards Review Board is an independent Crown entity established under the Financial Reporting Act 1993 and operating within the framework of the Crown Entities Act 2004. Its primary functions are to:

• Set some aspects of the strategy for financial reporting in New Zealand.
• Review and approve financial reporting standards.
• Encourage the development of financial reporting standards, including standards for different classes of reporting entities.

The ASRB also seeks to influence the development of international standards and has close linkages with Australian financial reporting bodies. It consists of between four and seven members appointed by the Governor-General on the recommendation of the Minister of Commerce.

Further information on the Accounting Standards Review Board can be found at http://www.asrb.co.nz