- Press Releases Related to the Monitoring Group
- Public Communications Related to the Monitoring Group
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Monitoring Group - Reforms to The Global Audit Standard-Setting Process
(22 February 2018) -
Monitoring Group Governance Review
(28 March 2013) - Monitoring Group Charter
- IFAC Reforms
- Monitoring Group Nominating Committee
Monitoring Group Nominating Committee
Call for Applications: Board Member of the Public Interest Oversight Board (PIOB)
Executive Summary
The Call for Applications: Board Member of the Public Interest Oversight Board (PIOB) is an official notice for the general public. It outlines the requirements and job description of a PIOB Member and invites highly qualified individuals to apply for two (2) vacancies on the PIOB Board, for an initial term of three (3) years, commencing on January 1, 2023.
The PIOB is an independent oversight body that seeks to improve the quality and public interest focus of the international audit, assurance, and ethics standards formulated by the international standard-setting boards: the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA), collectively, the international standard-setting boards (SSBs).
The PIOB is a non-profit foundation established in Spain, consists of a board of trustees and a Technical Committee, the latter being tasked with oversight of the IAASB and the IESBA. The Technical Committee has ten (10) objective and diverse members, including the Chair, committed to the public interest. PIOB Members are drawn from a gender, geographically and experientially diverse variety of stakeholders, with experience in the preparation, audit, oversight, delivery and use of financial statements, and with the ability to analyze if the work of the IAASB and IESBA is responsive to the public interest and undertaken in accordance with the Public Interest Framework.
A PIOB Member is non-executive, compensated position, with expected total time commitment (excluding travel) of approximately 300 hours per year. The PIOB typically holds four meetings per annum and members are allocated oversight responsibilities of the IAASB and the IESBA, which partly comprise of observations of meetings of these two standard-setting boards.
Candidates should ideally have experience or a strong understanding of the principles of oversight and working in a public interest environment, and knowledge about the role that international audit, assurance and ethics standards play in the functioning of the world’s capital markets, the services or activities which the standards address and the environments and manner in which they are delivered. Candidates should possess effective communication skills and the ability to work collaboratively in an international setting alongside board members from a variety of nationalities and backgrounds. Candidates should also have strong connectivity to their home and regional markets, and be able to effectively engage in stakeholder outreach to publicly advocate for the work of the PIOB, as well as for the work and standards of the IAASB and the IESBA, in overseeing the IAASB and the IESBA as independent standard-setters of high-quality global audit, assurance, ethics and independence standards developed in the public interest. In addition, engagement in stakeholder outreach will include initiatives to develop and maintain a stable long-term funding model for the international audit and ethics standard-setting system.
The Monitoring Group Nominating Committee (MG Nominating Committee or MG NC) is seeking candidates who have held senior level or leadership positions, including considerable international experience, and are highly respected both within and outside their profession in their region and globally. Candidates should also have an understanding of, and be sensitive to, the various challenges associated with the adoption and application of high quality global audit and ethics standards, and to current issues such as sustainability reporting, including assurance, the impact of new technologies, and changes in investors’ and markets’ expectations. Candidates should demonstrate a firm commitment to serving the public interest, to the work of the PIOB, and to oversight of the IAASB and the IESBA as high-quality global standard-setters.
English proficiency (both written and oral) is essential, and only individuals who possess the highest integrity will be considered.
The MG Nominating Committee is interested in candidates from a wide range of relevant backgrounds, including expertise in the preparation, audit, corporate governance, and regulatory oversight of corporate financial reporting and in the use and analysis of financial information. Candidates from all skills and backgrounds will be considered, particularly:
- Users of audited financial statements or assurance reports, including institutional investors and analysts (including those with economics or finance training); and
- Preparers of financial reports, including an understanding of the ethical standards applicable to professional activities.
Candidates with other relevant backgrounds that potentially complement and enrich the current diversity of the PIOB membership are encouraged.
Current employees of organizations represented on the Monitoring Group are not eligible for consideration.
Deadline for submitting applications is September 9, 2022. Please see “Application Process” section below, or visit the Nominating Committee's Website to learn how to submit an application.