- Press Releases Related to the Monitoring Group
- Public Communications Related to the Monitoring Group
- Press Contacts
-
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
Selection criteria
The Monitoring Group Nominating Committee reviews candidates’ application with the objective of selecting the most suitable candidates for the available positions.
As outlined in the MG Recommendations, the MG NC utilizes the PIOB skills matrix that considers leadership, expertise, and diversity of thought and geography. Candidates will be evaluated based on a wide range of skills, including the following:
- A public interest mindset
- Independence of thought and innovation
- Understanding of the services which the standards address, including the nature of the services, users, and the environment and manner in which they are delivered
- Understanding of the role and scope of remit of the standard-setting boards and of different participants in the financial reporting supply chain
- Critical reasoning and thinking: ability to place information in context, think through problems and consider unintended consequences, and find globally valid solutions that meet the strategic objectives
- Cooperative and collaborative, including active listening, collegiality, and awareness of cultural differences; and experienced in achieving common positions
- Experience or understanding of the basic principles of working in a public interest environment
- Experience or understanding of the principles of oversight
- Business leadership, strategic thinking, and understanding of principles-based approach enabling objectives to be achieved in differing circumstances
- International experience, including knowledge of differing cultural, economic, political, or commercial conditions and their implications in the public and private capital markets of varying sizes.
To complement the existing skills and diversity of PIOB members, the MG Nominating Committee will consider candidates that have knowledge and skills in:
- The role and use of the IAASB and the IESBA standards, including the impact on users of financial and non-financial information and related audit or assurance reports.
The MG Nominating Committee also will consider how the candidates’ gender and geographic background complements that of the existing PIOB members.
Additionally, English language proficiency is essential for this role. Proficiency in other languages will be an asset. Candidates also should 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 in overseeing the IAASB and the IESBA as independent standard-setters of high-quality global audit, 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 MG NC endeavors to balance the nominee’s abilities and professional qualifications with the needs of the PIOB, such that the PIOB has the appropriate balance of knowledge, skills, expertise, experience and diversity for it to discharge its public interest and oversight role and responsibilities independently and effectively. The MG NC also seeks gender, geographical and experiential diversity of stakeholders to serve on the PIOB Board.