Mara Cameran in the PIOB Nomination Committee

CAMERAN WAS APPOINTED TO MANAGE THE SELECTION PROCESS FOR MEMBERS OF TWO INTERNATIONAL STANDARDSETTING BOARDS FOR ENSURING ITS MULTISTAKEHOLDER COMPOSITION

Mara Cameran, in Bocconi’s Department of Accounting, was nominated as one of the nine members of the new Committee to manage the selection process for members of the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA), collectively referred to as the Standard-Setting Boards (SSBs), which help to shape the future of the auditing practice and of the accounting profession.
 
SSBs supports the global economy and financial markets by producing high-quality, global standards for auditing and assurance as well as ethical standards for professional accountants.
 
Cameran and the other Committee members have been appointed considering their ability to act independently and in the public interest, as well as the mix of experience and diversity they bring to the Committee. Moreover, they are from seven different world regions and are gender-balanced (four women and five men).
 
Cameran will serve for a term of three years, starting from 1 January 2022.
 
The new Committee was established by the Public Interest Oversight Board (PIOB) with the key objective to ensure a multi-stakeholder composition of the SSBs. According to Cameran, “it is a new process that aims to be even more transparent in the selection for the board, since we wish to ensure that the boards are formed by the people who are able to identify and suggest solutions to problems with a global perspective. In fact, there are extremely different voices that emerge internationally, which need to be balanced.”
 
Establishing this new Committee is a key recommendation emanating from one of the workstreams created after that the Monitoring Group (MG) issued its July 2020 Paper on
Strengthening the International Audit and Ethics Standard-Setting System, whose aim is to facilitate standard setting that is responsive to the public interest and produces high-quality international standards.
 
The Public Interest Oversight Board (PIOB) was formally established in 2005 with the purpose to increase the confidence in global financial markets. In fact, it oversees the selection processes of the members and the standard setting activities of the independent boards operating under the International Federation of Accountants (IFAC) umbrella, which are in charge of issuing standards for auditing and assurance, ethics, public sector financial reporting, and education.

by Weiwei Chen