Auditing and Assurance Standards Oversight Council Announces New Appointments to the Auditing and Assurance Standards Board

Media Release / Communiqué

TORONTO, ON April 12, 2012 - The Auditing and Assurance Standards Oversight Council (AASOC) is pleased to announce the appointment of Mark Davies as Chair, and Cathy MacGregor as Vice-Chair, of the Auditing and Assurance Standards Board (AASB), effective April 1, 2012.

“Mr. Davies and Ms. MacGregor have both proven themselves to be leaders in their fields and have already benefitted Canada’s auditing and assurance standards as committed AASB members,” said Bill McFetridge, AASOC Chair. “We look forward to their leadership on the Board as it continues to set the high-quality auditing and assurance standards that Canada is known for.”

Mr. Davies has over 28 years of experience in public accounting and auditing with KPMG LLP, currently acting as a partner in the Audit Practice. His experience includes work on a wide range of public and private companies, both small and large, in various industries within Canada and internationally.

New AASB Chair, Mark Davies, was Vice-Chair from 2010-2012 and has been an AASB member since 2008.

Ms. MacGregor is Grant Thornton LLP’s National Auditing Standards Partner and has over 24 years of experience in audit and assurance services with the firm. She has worked with clients that include publicly listed entities, privately held businesses and not-for-profit organizations.

New AASB Vice-Chair, Cathy MacGregor, has been an AASB member since 2009.

The Auditing and Assurance Standards Board (AASB) is responsible for the setting of generally accepted auditing standards (GAAS) for financial statement audits. Final standards are issued in the CICA Handbook – Assurance.

The Auditing and Assurance Standards Oversight Council (AASOC) is an independent, volunteer body established in 2002 by the Canadian Institute of Chartered Accountants. It serves the public interest by overseeing and providing input into the activities of the Auditing and Assurance Standards Board (AASB). Reporting to the public and consisting of prominent leaders from business and regulators, the Council’s responsibilities include appointing AASB members, providing input on strategic priorities and evaluating the performance of the Board.

For further information: Contact Daniella Girgenti, Communications Manager, Standards, (416) 204-3482, daniella.girgenti@cica.ca. www.frascanada.ca

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