12 December 2007
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Front; Auditor-General of Victoria, Mr Des Pearson; Deputy Dean Research, Professor Jayne Godfrey; Honorary Professor Warren McGregor; Head of Department of Accounting and Finance, Professor Kim Langfield-Smith; Deputy Head Financial Accounting and Auditing, Associate Professor Keryn Chalmers. Back; Partner, Global Capital Markets Group, PricewaterhouseCoopers, Kevin Stevenson; Executive General Manager Finance, Amcor Limited, Peter Day.
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Leaders in the accounting and finance industry met recently at theCaulfield campus to celebrate the appointment of Warren McGregor as Honorary Professor in the Business and Economics Faculty. Professor McGregor gave a lecture titled A single set of globally-accepted high-quality accounting standards -- reality or fantasy?
Professor McGregor spoke on the development of the InternationalAccountingStandards Board, which was charged with the task of establishing a single set of global accounting standards that could be used in all of the world's capital markets.
"This was a lofty objective that many supported but few thought couldbecome a reality, perhaps ever and certainly not in the short to medium term," Professor McGregor said. He discussed the critical actions that the standards board took in its initial years to establish a foundation for its future success and how China, Canada, Korea, India and Japan were quick in succession to join the board.
The lecture was well attended with about 80 people from industry, academiaand the student body, including the Auditor-General of Victoria, Mr Des Pearson and the Chair of the Australian Accounting Standards Board Professor David Boymal.
Head of the Department of Accounting and Finance, Professor KimLangfield-Smith welcomed Professor McGregor to the department.
"Professor McGregor has been instrumental in the development of standardsetting in accounting world-wide and we look forward to collaborating with him at Monash," Professor Langfield-Smith said.
Professor McGregor became a member of the International AccountingStandards Board in January 2001.
Before joining the Board, he was a founding Director of StevensonMcGregor,a boutique accounting practice specialising in financial reporting and accounting standards. Prior to that, he was the CEO of the Australian Accounting Research Foundation for 10 years, the body that until mid-2000 was responsible for providing technical support to the Australian Accounting Standards Board in the development of Australian standards.
Professor McGregor is a Monash graduate and commenced his career as alecturer in accounting at Monash. |
