CA appointed to IFRS Foundation and UK government committees
Andrew Buchanan CA is set to serve on two prominent international and UK Government financial reporting committees.
Andrew Buchanan, who is BDO’s Global Head of IFRS, has been appointed to the IFRS Interpretations Committee and reappointed to the UK Government Financial Reporting Advisory Board (FRAB).
He is one of 14 international members of the Interpretations Committee – the interpretative body of the International Accounting Standards Board (IASB) – and will serve for a three-year term.
The Interpretations Committee aims to support the consistent implementation of International Financial Reporting Standards (IFRS), by reviewing and responding to issues and developing authoritative guidance.
Andrew will serve a second term of three years on the FRAB, following his initial five-year term. The FRAB was established in 1996 and exists to ensure that government financial reporting meets the best possible standards.
Andrew told CA Today that his appointment to the Interpretations Committee would give him “the opportunity to be involved in the development of interpretative guidance which deals with significant, practical issues that are faced by preparers of financial statements, and to make a contribution towards the consistent global application of IFRS”.
Speaking on his reappointment to the FRAB, he said: “My reappointment for a second term enables me to contribute further to the work carried out by the FRAB in improving the quality of financial reporting by public sector entities in the UK. Membership of the Board provides insight into many accounting issues that arise in the public sector, and of differing perspectives in how they can be resolved.”
Andrew trained with Alexander Sloan and Co. and qualified as a CA in 1991. Before joining BDO in 2004, he was at KPMG for 12 years, initially in audit and transaction services in the UK and Eastern Europe, before moving to a technical role in 2000. During his time at KPMG, Andrew completed secondments at the UK Accounting Standards Board where he drafted an accounting standard covering revenue recognition, and to KPMG’s international IFRS technical group.
He is a member of the ICAS Accounting Standards Committee and the Federation of European Accountants Corporate Reporting Policy Group.
Andrew also shared some advice for CAs interested in following a similar career path. He said: “Don’t be afraid of taking chances and trying things out, and of moving into what seems a niche role if you like the work.”
He added: “Be prepared for a lot of hard work, and be both strategic and patient when looking for opportunities to arise that enable you to progress in your career.”