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IFAC issues call for board nominations

The International Federation of Accountants (IFAC) is calling for nominations for the four independent standard-setting boards in 2019 as it attempts to address the gender and ethnic diversity imbalance on its boards.

IFAC issues call for board nominations
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The International Auditing and Assurance Standards Board (IAASB), International Accounting Education Standards Board (IAESB), International Ethics Standards Board for Accountants (IESBA), and the Internal Public Sector Accounting Standards Board (IPSASB), have a combined total of 22 open volunteer positions that can come from all stakeholders, interested parties, and the general public.

IFAC has prioritised nominations of female candidates, with the current makeup of the IAASB’s board size of 18, showing only five female members; seven out of 18 for the IESBA; six out of 18 for the IAESB; and five out of 18 for the IPSASB.

“Gender equality is especially important to the nominating committee and, therefore, nominations of strong female candidates are strongly encouraged,” said IFAC in a statement.

Further, in a bid to address cultural diversity, IFAC has emphasised certain regions, stating, “although candidates are ultimately selected based on professional background and experience, nominations from Africa, Asia, the Caribbean, Latin America, and the Middle East are particularly welcome to promote greater diversity on each board”.

Australiasia and Oceania were also amongst regions listed with low representation, with only three members across four boards.

“Serving on these boards allows individuals with diverse professional backgrounds to contribute to the development of international standards, and to gain international experience while serving the public interest,” read IFAC’s statement.

Each board meets up to four times per year, with the required time commitment approximately 300 to 850 hours per year, depending on the board, member involvement, preparation, and travel time.

The nominating committee requests submissions by 15 February 2018.

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