Financial Reporting Council appointed to Accounting Standards Advisory Forum
News types: Staff/Board Announcements
Published: 19 March 2013
Roger Marshall will represent the UK and Republic of Ireland on the ASAF and work with other standard-setting bodies across the globe to contribute constructively towards the achievement of the International Accounting Standards Board’s (IASB) goal of developing globally accepted high-quality accounting standards.
As Chair of the FRC’s Accounting Council, Roger Marshall is ideally placed to participate as a member of the ASAF and ensure the Forum benefits from the support of the FRC’s Accounting and Reporting Team and the wider FRC network.
The UK has the largest capital markets in Europe. Against this background, the FRC has extensive experience of accounting standard setting at international level. The UK has worked very closely with the IASB to secure high quality international standards and promote the widespread adoption of those standards; and has built good relationships with fellow standard-setters in other jurisdictions in Europe and across the globe.
The Accounting Standards Advisory Forum formalises and streamlines the relationships between the IFRS Foundation and International Accounting Standards Board (IASB) with representatives from across the global standard-setting community. It will bring regional perspectives to the IASB’s technical work and offer feedback on the most important issues of the day.
Chairman of the FRC, Baroness Hogg, said,
“Roger’s extensive experience means he will make a significant contribution to the role of the ASAF in securing a more streamlined and effective dialogue between the IASB and the global accounting standard-setting community. The FRC focusses on standards that add value for investors and others who rely on them at an acceptable cost to those who prepare them.”
Notes to editors:
- The FRC is responsible for promoting high quality corporate governance and reporting to foster investment. We set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work. We represent UK interests in international standard-setting. We also monitor and take action to promote the quality of corporate reporting and auditing. We operate independent disciplinary arrangements for accountants and actuaries; and oversee the regulatory activities of the accountancy and actuarial professional bodies.
- Roger Marshall is a qualified accountant. He spent much of his career in Pricewaterhouse Coopers, where he was an audit partner in London and Zurich and led the audits of a number of FTSE and other large multinational audits. Roger chaired PwC’s Global Audit Policy Board from 2003 – 2007 and now serves on several Boards and committees including Old Mutual plc, a FTSE 100 insurance company, where he is Chair of the Audit Committee. Roger Marshall served on the former UK Accounting Standards Board (ASB) between 2001 and 2007 and became a member of the ASB’s Committee for Accounting for Public Benefit Entities. He served as Chairman of the ASB from 2001/12. He was a member of the Sharman Panel on going concern in 2011/12 and currently chairs the Committee on Internal Audit Guidance for Financial Services.