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December 19, 2011

Top 30: Influencing the profession Part 3


Photograph of Jeremy Newman, BDO InternationalName: Jeremy Newman

Nationality: British

Organisation: BDO International

Job title: Chief executive, October 2008-September 2011

Jeremy Newman is the former chief executive of BDO International and the former managing partner of BDO UK, which under his leadership was restructured to move from a federal structure to a single national firm leading to record levels of fee income and staff numbers.

During his career in the accounting profession, Newman has been extremely vocal across a number of topics and is well known for promoting the cause of mid-tier firms and trying to break down competition barriers.

Newman developed BDO’s Chinese firm under the Chinese Ministry of Finance’s policy encouraging the growth of 10 domestic firms to compete with the Big Four.


Photograph of Xie Xuren, Ministry of Finance of the People's Republic of ChinaName: Xie Xuren

Nationality: Chinese

Organisation: Ministry of Finance of the People’s Republic of China

Job title: Minister of Finance

Xie Xuren began his political career in 1980 when he joined the Communist Party of China (CPC).

He went on to become the director-general of the State Administration of Taxation and then onto his current role as the Minister of Finance of the Republic of China. Xie is also currently a CPC Central Committee member and a senior economist in the government.


Photograph of Ian Ball, IFACName: Ian Ball

Nationality: American

Organisation: International Federation of Accountants (IFAC)

Job title: Chief executive

In his role as chief executive of IFAC since March 2002, Ian Ball has led the implementation of initiatives designed to strengthen international audit, ethics and accounting education standard-setting processes to achieve convergence with international standards.

He previously served as a member of IFAC’s Nominating Committee and as chairman of its Public Sector Committee in which he initiated the development of international standards for public sector financial reporting.


Photograph of Michael Peat, IIRCName: Michael Peat

Nationality: British

Organisation: International Integrated Reporting Committee (IIRC)

Job title: Former chairman, 2009-2011

Michael Peat, previously principal private secretary to the Prince of Wales and the Duchess of Cornwall, is the former chairman of the IIRC, spearheading the launch of the international integrated reporting framework. He also helped establish the Prince’s Accounting for Sustainability Project (A4S).

A qualified chartered accountant, Peat was previously a partner with KPMG and keeper of the Privy Purse for the Queen of England.


Photograph of Timothy Geithner, US Department of TreasuryName: Timothy Geithner

Nationality: American

Organisation: US Department of Treasury

Job title: Secretary of Treasury

Timothy Geithner, whose political career began in 1988, was sworn in as Secretary of the United States Department of the Treasury in June 2009. Prior to his current role he served as the ninth president and chief executive officer of the Federal Reserve Bank of New York.

Geithner also served as vice-chairman of the Federal Open Market Committee, responsible for formulating the US monetary policy.


Photograph of Wolfgang Schauble, German Ministry of FinanceName: Wolfgang Schäuble

Nationality: German

Organisation: German Ministry of Finance

Job title: Finance Minister

Wolfgang Schäuble, who was appointed Germany’s Finance Minister in 2009, began his political career in 1981 after joining the youth division of the Christian Democratic Union (CDU). Progressing quickly up the ranks, he was appointed Federal Minister for Special Affairs in 1984.

Born in Freiburg im Breisgau, Schäuble became a qualified lawyer in 1970 obtaining his doctorate in law, with a dissertation called ‘The Public Accountant’s Professional Legal Situation within Accountancy Firms’.


Photograph of Christine Lagarde, IMFName: Christine Lagarde

Nationality: French

Organisation: International Monetary Fund (IMF)

Job title: Managing director

Christine Lagarde, one of the most powerful women in the world of finance, is a politician having joined the French government in 2005. She is a respected antitrust and labour lawyer.

Her roles in the French government were Minister for Foreign Trade (2005-2007), Minister of Finance (2007-2011) and from July 2008 to December 2008 she chaired the Economic and Financial Affairs Council.

During her term as chairman of the G20, she launched a wide-ranging work agenda on the reform of the international monetary system.

Lagarde was appointed managing director of the IMF in 2011, replacing Dominique Strauss-Kahn.


Photograph of Russell Picot, HSBCName: Russell Picot

Nationality: British

Organisation: HSBC

Job title: Global chief accounting officer

Russell Picot is HSBC’s group chief accounting officer. He joined the bank in 1993 and was appointed a group general manager in 2003.

Picot is a director of the HSBC UK Bank Pension Trust and chairman of its Audit, Operations and Discretions Committee. Prior to joining HSBC Picot worked at KPMG for 14 years and also undertook a secondment at the Bank of England.

He has been directly involved with the Prince of Wales Accounting for Sustainability project since its inception in 2006 and is currently a member of its Supervisory Board.

Picot is also a member of the International Integrated Reporting Committee.


Photograph of Barry Salzberg, Deloitte GlobalName: Barry Salzberg

Nationality: American

Organisation: Deloitte Global

Job title: Chief executive

Barry Salzberg joined Deloitte US in 1977, was admitted as partner in 1985, assumed control of the firm’s national tax practice in 2000 and was appointed chief executive in 2007.

After Salzberg was elected Deloitte’s global chief executive in April 2011, the Big Four firm completed the acquisition of BearingPoint’s North American government practice and began work on Deloitte University, a $300m learning and development facility.

Under his leadership, the firm also briefly piped PwC to be crowned the biggest professional services network in the world in 2010.

Salzberg is known in the marketplace for his commitment to building opportunities for tomorrow’s leaders.


Photograph of Leisel Knorr, ASCGName: Liesel Knorr

Nationality: German

Organisation: Accounting Standards Committee of Germany (ASCG)

Job title: President

Liesel Knorr is currently president of the ASCG and is an expert in the world of standard-setting after a successful career in the field for more than 17 years.

She was at the forefront of Germany’s adoption of IFRS, is a regular European commentator on accounting standards and has co-written numerous work books and guides on IFRS implementation and one on German Accounting Modernisation Act of 2009.

Born in 1948, Knorr qualified as a tax consultant in 1982 and became a partner at accounting firm KPMG in 1988.

Christmas hollyThe top 10 share their Christmas wishes with The Accountant

Michel Barnier, internal markets commissioner, European Commission:

“For Christmas I really hope that Europeans [have] confidence in the future again. So many people in Europe are suffering so much. But I hope that citizens realise the European Commission and all European leaders are doing their best to make sure we get out of this crisis quickly and return to jobs and growth.”

Mervyn King, chairman, International Integrated Reporting Committee:

“My wish for Christmas is all companies’ boards’ mindsets change, the people who created these problems mindsets change, young people’s mindsets change and that the tools of governance such as primacy of the shareholder and the single bottom line that those tools of the 19th and 20th century cannot be used in the 21st century in the decision making process.

“We have got to take into account the needs, interests and the expectations of stakeholders in our decision making process and with the guidance being in the best interest of the company.”

Baroness Sarah Hogg, chairman, UK Financial Reporting Council:

“That my grandchildren grow up into a world that offers them lots of opportunities and to have the kind of exciting and varied career I have had the privilege to enjoy.”

Hans Hoogervorst, chairman, International Accounting Standards Board:

“A week without travel.”

Dennis Nally, chief executive, PwC International:

“I travel around the world a lot and I visit very interesting places, I see how fortunate I am personally and if I had one wish it would be the children that are out there today have the same opportunities that I’ve had in my professional life.”

Edward Nusbaum, chief executive, Grant Thornton International:

“I certainly don’t need any personal wish, but I’ll give the broader one, which is economic growth and stability in the world. I think what we’ve got is this uncertainty and in recession recovering problems in the Eurozone, Asia, Japan. So, if I had a wish for Christmas, it would be economic recovery that is consistent and strong beginning now.

“I think it would alleviate a lot of the problems we see in the world because it would create jobs and prosperity.”

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