John O’Grady Appointed Representative to IFRS Interpretations Committee
Ernst & Young announced that John O’Grady has been appointed by the International Financial Reporting Standards (IFRS) Foundation Trustees as a representative on the IFRS Interpretations Committee, effective 1 July 2012.
The position was previously held by Ruth Picker, Ernst & Young’s Global IFRS Leader, who completes her six-year term on the Committee. The role of the IFRS Interpretations Committee is to reach consensus on the appropriate accounting treatment for IFRSs and provide guidance on this treatment and emerging issues in interpretation and application.
John is a senior member of Ernst & Young’s Asia Pacific Area Professional Practice group as the IFRS Leader for Asia-Pacific. John is based in Hong Kong, China and Melbourne, Australia. He was previously the IFRS Leader for the Oceania Area from 2005 and has been a member of Ernst & Young’s Global IFRS Policy Committee since 2005.
The IFRS Policy Committee is responsible for recommending Ernst & Young policy around IFRS application and reporting, the consistent interpretation of IFRS across Ernst & Young globally, and responding to proposals of the International Accounting Standards Board and IFRS Interpretations Committee. John is also a member of the Australian Accounting Standards Board.
John comments, “I am looking forward to contributing to the important work of the Interpretations Committee. As more and more countries around the world adopt International Financial Reporting Standards, the challenge of consistent interpretation of the standards grows. The Committee has an important role to play in facilitating globally consistent interpretation and, in turn, serving the public interest.”
Karen Golz, Global Vice Chair, Professional Practice at Ernst & Young says, “We congratulate John on his appointment and thank Ruth for her service over the past six years. At a time when IFRS is being accepted as the global accounting standard in many countries, consistency of application around the world is increasingly important. The IFRS Interpretations Committee plays an important role in serving the investing and public interests.”