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December 19, 2011

Top 30: Influencing the profession Part 2


Photograph of Yezdi H Malegam, NACASName: Yezdi H Malegam

Nationality: Indian

Organisation: National Advisory Committee on Accounting Standards (NACAS)

Job title: Chairman

Yezdi Malegam is a regulatory expert, currently the chairman of NACAS.

Malegam also serves as director of the National Stock Exchange of India and is chairman of S B Billimoria & Co Chartered Accountants.

One of Malegam regulatory achievements is the 1995 review of disclosure requirements for public issues.

Under his recommendation guidelines were produced by SEBI, which included companies declaring loans to subsidy companies.

He is also the chairman of the Securities and Exchange Board of India (SEBI) Committee on Disclosures and Accounting Standards.

Malegam was also the former president of the Institute of Chartered Accountants of India from 1979 to 1980 and has been a board member of the Reserve Bank of India for 17 years.


Photograph of Cheng Yugui, CICPAName: Cheng Yugui

Nationality: Chinese

Organisation: Chinese Institute of Certified Public Accountants (CICPA)

Job title: Secretary general

In his role as the secretary general of the CICPA, Cheng Yugui has promoted the implementation of IFRS in China in particular through a 2007 partnership with the Institute of Chartered Accountants of England and Wales.

As part of the partnership the pair jointly launched an IFRS certificate and a project team to conduct detailed research and investigate comparisons between the Associate Chartered Accountant qualification and the Chinese CPA qualifications.

Yugui is also responsible for helping to educate and qualify accountants coming into China’s accountancy profession, as well as help to improve the quality of accountants coming into the market.

The number of accountants coming into the profession is set to expand rapidly due to a growth strategy put in place by the Chinese Ministry of Finance in 2009.


Photograph of Michael Izza, ICAEWName: Michael Izza

Nationality: British

Organisation: Institute of Chartered Accountants in England and Wales (ICAEW)

Job title: Chief executive

Under the leadership of Michael Izza, the ICAEW has embarked on an ambitious strategy to transform itself into an international professional accountancy body, headquartered in the UK.

It now has 136,615 members globally with 23,635 based outside the UK.

A key part of his current role is to promote the contribution made by the profession as a driver of business, economic confidence and growth across the world. Izza has also been a driving force in helping improve co-operation between the UK profession and other countries such as China. He is a media commentator and has been at the forefront of increasing ICAEW engagement with political and regulatory stakeholders.


Photograph of Goran Tidstrom, IFACName: Göran Tidström

Nationality: Swedish

Organisation: International Federation of Accountants (IFAC)

Job title: President

Göran Tidström is the president of the IFAC, which leads the sustainable development of the global accountancy profession by developing global auditing standards, educational standards and ethics. IFAC is an umbrella body for professional accounting bodies around the world.

Prior to this role, Tidström served as IFAC deputy president (2008-2010) and has been a European representative to IFAC since 2000.

Tidström has more than 30 years of experience as a public accountant with PwC Sweden and is a founder of the European Financial Reporting Advisory Group, the private sector body that gives European input to the International Accounting Standards Board and evaluates new IFRS for use in Europe.


Photograph of Michael Andrew, KPMG InternationalName: Michael Andrew

Nationality: Australian

Organisation: KPMG International

Job title: Chairman

Michael Andrew, who was appointed global chairman of KPMG in May 2011, has a career spanning nearly three decades at the Big Four firm and has served in a number of leadership capacities most recently as chairman of KPMG Asia Pacific and also of KPMG Australia.

Under his leadership, Andrew has led the network to achieve double-digit growth of 10% to $22.7bn in the year to 31 September 2011, which is a strong result in such a tough environment.

Andrew has been actively engaged in shaping the future direction of the network; having been a member of KPMG’s Global Board and Global Council since 2007 and he was a member of the Global Governance Review in 2008.


Photograph of Leslie Seidman, FASBName: Leslie Seidman

Nationality: American

Organisation: US Financial Accounting Standards Board (FASB)

Job title: Chairman

Leslie Seidman has been the head of the FASB since 2010 and is responsible for managing the organisation’s day-to-day activities and leading its efforts to develop high-quality financial reporting standards.

Under her leadership, US GAAP has been further converged with IFRS in partnership with the International Accounting Standards Board an important step towards a single set of global financial reporting standards.

Seidman initially joined the FASB as an industry fellow, after which she served as a project manager and as the assistant director of research and technical activities.

A qualified accountant, Seidman began her career at Arthur Young (now Ernst & Young). She was also a vice-president in the accounting policies department of investment bank JP Morgan responsible for establishing accounting policies for new financial products.


Photograph of Paul Druckman, IIRCName: Paul Druckman

Nationality: British

Organisation: International Integrated Reporting Committee (IIRC)

Job title: Chief executive

Paul Druckman is the chief executive of the IIRC the organisation planning to launch the world’s first international integrating reporting framework.

Following a successful business career in the technology sector, Druckman has operated as a non-executive chairman and director for a number of companies in a variety of sectors.

Formerly a director of the Financial Reporting Council and a member of the City Takeover Panel, Izza’s work on sustainability matters has mainly focused around the accountancy profession – as chairman of the Sustainability Group at the Fédération des Experts Comptables Européens (FEE), which represents the accountancy profession in Europe; and during his tenure as president of the Institute of Chartered Accountants in England and Wales.

He is also a member of the Supervisory Board of the Prince of Wales Accounting for Sustainability project.


Photograph of Cindy Fornelli, US Centre for Audit QualityName: Cindy Fornelli

Nationality: American

Organisation: US Centre for Audit Quality

Job title: Executive director

Cindy Fornelli is a well-reputed commentator on audit policy and a corporate governance champion in the US as part of her role as the executive director for the Center for Audit Quality (CAQ).

Fornelli is also responsible for carrying out the mission and vision of the CAQ’s Governing Board. She currently serves as a member of the Financial Accounting Standards Advisory Council.

During her career, Fornelli has taken on a number of regulatory roles, including regulatory and conflicts management executive at Bank of America.


Photograph of Barry Melancon, AICPAName: Barry Melancon

Nationality: American

Organisation: American Institute of Certified Public Accountants (AICPA)

Job title: Chief executive

Qualified accountant, Barry Melancon is the president and chief executive officer of the AICPA, a national professional body of CPAs with more than 370,000 members worldwide.

Under his leadership, AICPA has spearheaded initiatives such as private company reporting standards; the eXtensible Business Reporting Language (XBRL); computerised CPA exams; audit quality centers; an Audit Committee Effectiveness Center; and two consumer education programmes.

Melancon is a member of AICPA’s delegation to the International Federation of Accountants, vice-chairman of XBRL-US and the Center for Audit Quality and a founding member of the Global Accounting Alliance.


Photograph of Ian Powell, PwC UKName: Ian Powell

Nationality: British

Organisation: PwC UK

Job title: Chairman

Ian Powell is the chairman and senior partner of the largest UK accounting firm, PwC. He joined the UK firm’s management board in 2006 as head of its advisory business and was elected chairman in 2008.

Under Powell’s leadership and during the financial crisis, PwC UK registered positive results with a 4% growth in 2010. In 2011, PwC joined the 30% Club, a group of organisations voluntarily committed to meeting the goal of having 30% female representation on UK boards.

Powell has extensive experience in leading strategic business reviews and in advising stakeholders on significant restructurings of public companies. He is a well known industry voice in the UK accounting profession.

For 20-30 group see: Top 30: Influencing the profession Part 3

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