IFAC elects new President

New York
By Andrew Harbison, CA Today

25 November 2016

The International Federation of Accountants (IFAC) has elected its second female president.

Rachel Grimes has been elected as the organisation's new president, serving a two-year term starting in November 2018.

Rachel brings a wealth of experience to the role, having been actively involved in the Australian accounting profession for more than a decade.

After serving on the board of Chartered Accountants Australia and New Zealand (CAANZ) since 2006, Rachel went on to become president of the accountancy body in 2011.

An IFAC Board member since 2011, Rachel was elected deputy president in 2014 and previously chaired IFAC’s planning and finance committee.

Rachel Grimes

Rachel said that she is “honoured” to have been elected during a time of “great global uncertainty”.

She continued: “There are also remarkable opportunities to strengthen the accountancy profession and further the adoption of global standards in the public interest,

“As president, I look forward to working with our member organizations and other stakeholders as we continue to put trust at the heart of all we do, and at the heart of the global economy.”

Dr. In-Ki Joo, Professor, Emeritus, of Accounting at the Yonsei University School of Business, was announced as the new deputy president.

Dr Joo has served as President of a number professional institutions in Asia, notably the Confederation of Asian and Pacific Accountants, the Korean Accounting Association, and the Korean Academic Society of Business Administration. He was a member of the Advisory Committee to the Republic of Korea General Audit Bureau and the Vice President, International Affairs, at the Korean Institute of Certified Public Accountants (KICPA).

Alongside the presidential announcements, IFAC also announced the induction of three new members:

  • Mauritius Institute of Professional Accountants.
  • Ordem dos Contabilistas Certificados (Portugal).
  • Union of Accountants, Auditors and Finance Workers of Federation of Bosnia and Herzegovina.


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