• Public interest protection

Overseeing nominations and membership approvals

The Nominating Committee identifies and recommends candidates with the best qualifications to fill a variety of volunteer roles. These roles include the president, deputy president, members of the IFAC Board; and chairs, deputy chairs, and members of the IFAC committees, as well as members of the PIACs.
Nominations for the independent standard-setting boards may be submitted by all stakeholders, including international organizations, governmental agencies, self-nominations by the general public, as well as IFAC member bodies and the Forum of Firms. Nominations for the IFAC Board, CAP, and IFAC committees may be submitted by IFAC member bodies only.

The PIOB has the right to observe and speak at Nominating Committee meetings in which these recommendations are developed.

In addition to the best candidate for the job, the Nominating Committee seeks a broad regional and professional representation, gender balance, and candidates from countries with different levels of economic development.

The quality and public interest mindedness of PIAC members are, ultimately, the most critical elements ensuring the responsiveness of standard setting to the public interest. The PIOB follows very closely the process through which candidates are searched and selected for nominations, and is present during some candidates’ interviews. PIOB oversight activity on nominations to the PIACs follows the phases shown in the following table:

 

 

MONTH

 

PHASE

 

PIOB OVERSIGHT ACTIVITY

 

NOVEMBER

2012

 

 Review notice of call nominations for next year, for IFAC Board approval

 

 PIOB is consulted; no PIOB approval is required.

 

 

JANUARY

2013

 

 IFAC publication of call for nominations (IFAC website and The Economist 2013)

 

 

 None

 

JANUARY - MARCH

2013

 

 Receive curriculum vitas from candidates; most candidates are nominated by nominating organizations.

 

 

 None

 

MARCH

2013

 

 NOMINATING COMMITEE MEETING

Discuss outcomes of the performance program and identify candidates for reappointment to the boards and committees

 

 

 PIOB direct observation

 

APRIL

2013

 

 NOMINATING COMMITTEE MEETING

Review nominations received, select candidates for interviews, and agree on interview schedule

 

 

 PIOB direct observation

 

APRIL - JUNE

2013

 

 

 Conduct interviews carried out by Nominating Committee members

 

 

 None

 

JUNE

2013

 

 NOMINATING COMMITTEE MEETING

Receive report on interviews carried out during the April-June perio

Discuss outcome of interviews

Conduct in-person interviews

 

 

 PIOB direct observation

 

JULY

2013

 

 NOMINATING COMMITTEE MEETING

Finalize any remaining interviews and develop final list of recommendations to be approved by IFAC Board

 

 

PIOB direct observation

 

SEPTEMBER

2013

 

 

 Recommendations made to the IFAC Board for approval

 

 None

 

NOVEMBER

2013

 

 

 PIOB approval

 

 PIOB deliberation and decision