Peter Costello

Media Releases

Appointment of Chair of the Australian Accounting Standards Board



I am pleased to announce the appointment of Professor David Boymal as full-time Chairman of the Australian Accounting Standards Board (AASB). Professor Boymal’s appointment is for a period of five years.

The AASB is the Commonwealth statutory body responsible for setting accounting standards for companies, not-for-profit entities and the public sector. The Chairman of the AASB is appointed by the Treasurer.

Professor Boymal will bring a strong mix of leadership, managerial skills and technical understanding to the position of AASB Chairman. He has been involved in both domestic and international accounting standard setting. From 1991 to 1999 he served as a part-time member of the AASB and, during the latter part of that period, held a standing appointment as the Board’s Acting Chairman. Previously he had been a member of predecessor accounting standard setting boards and, from 1988 to 1990, was the only Australian on the International Accounting Standards Committee, predecessor of the present-day International Accounting Standards Board.

He is a past National President of CPA Australia and more recently from 2001 to 2002 was the Australian representative on the Board of the International Federation of Accountants.

Professor Boymal recently retired as a senior partner of Ernst and Young after a long and distinguished career with the firm. In his professional capacity, he has earned standing within the accounting profession and support from the wider business community.

Professor Boymal’s term will span a very important, dynamic and challenging period for the AASB. As Chairman, Professor Boymal’s position will be key to achieving a smooth transition to the adoption by Australia of international accounting standards for Corporations Act reporting entities for financial periods commencing on or after 1 January 2005. He will also have a central role in the harmonisation of Government Finance Statistics and Generally Accepted Accounting Principles (GAAP) for the public sector.

A copy of Professor Boymal’s curriculum vitae is attached.

6 November 2003

Contact: David Alexander
(02) 6277 7340



Bachelor of Commerce (University of Melbourne)

Advanced Management Program (University of Melbourne)

Fellow of The Institute of Chartered Accountants in Australia

Fellow and life member of CPA Australia (which was originally known as the Australian Society of Accountants)

Registered Company Auditor

Adjunct Professor (RMIT University, Melbourne)

Present positions:

Consultant (retired from Ernst and Young in June 2003)

Chairman, Course Advisory Board, Faculty of Business and Law, Deakin University (since 1997)

Member, Advisory Board, School of Accounting and Law, RMIT University (since 1994)

Past experience:

Partner, Ernst and Young (and predecessor firms) (1971-2003)

  • National Director, Accounting and Auditing Standards, for E&Y and a predecessor firm (1985-2002)
  • National Director of Auditing for a predecessor firm (1982-85)

Independent Auditor of the Australian National Audit Office (1993-98)

National President, CPA Australia (1998-99)

Australian representative and member, board of directors, International Federation of Accountants (2000-02)

Australian representative, International Accounting Standards Committee (predecessor of the International Accounting Standards Board) (1988-90)

Member, Australian Accounting Standards Board (1991-99)

Member, Urgent Issues Group (1995-97)





6 Nov 2003

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