Senator the Hon Mathias Cormann

The Government is pleased to announce the appointment of Ms Kris Peach as the full‑time Chair of the Australian Accounting Standards Board from 3 November 2014 for a five year term.

The Australian Accounting Standards Board is the Commonwealth statutory body responsible for setting accounting standards for companies, not-for-profit entities and the public sector. The Board also has a highly active role in the development of International Financial Reporting Standards.

Ms Peach has extensive experience in accounting standards setting.  She has previously served on the Australian Accounting Standards Board as both a member and as the Deputy Chair. 

Ms Peach is currently a partner in KPMG’s International Standards Group and Australia’s Department of Professional Practice, providing accounting advice to a wide range of public and private entities.  She has also had a number of international financial reporting leadership roles within the firm.

I would like to thank Kevin Stevenson for his significant contribution during his term as Chair of the Australian Accounting Standards Board. Mr Stevenson’s active participation in international standards setting processes has reinforced the high regard for the Board internationally.  In particular, his participation in the Asian‑Oceanian Standards Setters Group underpins Australia’s close relationship with standards‑setters in the region.

The Australian Accounting Standards Board’s Research Director, Mr Angus Thomson will continue to act as Chair until Ms Peach’s term begins.