Friday 14 August 2020


The PIOB board is formed by ten distinguished individuals, originating from four continents and eight countries, and a Secretary General. They represent a broad variety of professional and regulatory backgrounds:

Ms. Linda de Beer

Ms. de Beer is a chartered accountant (SA), holds a master’s degree in taxation and is a professor in practice at the University of Johannesburg. She is a chartered director (SA), and serves as an independent non-executive director on a number of South African listed company boards. In addition, she has a long professional history of being involved in the setting, monitoring and oversight of reporting standards, corporate governance principles and related regulation.

Ms. de Beer was Chair of the International Auditing and Assurance Standards Board’s Consultative Advisory Group (CAG) from 2010 – 2015. During her tenure, she also served on the CAG of the International Ethics Standards Board for Accountants. Currently, she is focused on her existing corporate board appointments.

Mr. Robert Buchanan

Ms. Jane Diplock AO

Mr. Markus Grund

Mr. Shigeo Kashiwagi

Mr. Jules Muis

Ms. Aileen Pierce

Ms. Karen Stothers

Mr. Karel Van Hulle

Mr. Gonzalo Ramos



Claudia Deodati


Rocío Goudie


Heather Erickson


Renzo Lari


Nerea Lastras


(Member since 2012)

BA (Hons), LLB, DipEd (Sydney), Dip Int Law (ANU), FIPAA, FNZIM, FAICD

  • Chairman of the Abu Dhabi Regulatory Committee, Abu Dhabi Global Market
  • Director, Singapore Exchange Limited
  • Deputy Chairman, Lead Indepedent Director, International Integrated Reporting Council Board
  • Director, Australian Financial Services Group Pty Ltd
  • Member, International Advisory Committee, China Securities Regulatory Commission
  • Member, International Advisory Board Securities and Exchange Board of India

Recent Roles:

  • Chairman of the Executive Committee, International Organisation of Securities Commissions (IOSCO)
  • Chairman of the Securities Commission, New Zealand

Jane was the Chairman of the governing board, the Executive Committee, of the International Organisation of Securities Commissions (IOSCO) until April 2011. She was first elected in 2004 and re-elected for a fourth term in June 2010.

Jane was appointed Chairman of the New Zealand Securities Commission in 2001, and reappointed in 2006 for a further five-year term, until 2011.

Before this appointment, Jane was the National Director, Infrastructure and Strategic Planning, and New South Wales Regional Commissioner with the Australian Securities and Investments Commission. She has also held senior executive positions with Westpac Banking Corporation, in investment banking and corporate banking. She was Managing Director of the New South Wales Technical and Further Education Commission and Director General of a number of other government departments. She has chaired and been a member of a number of boards and committees in the public, private and not for profit sectors. She has been involved in standard setting globally and nationally.

On retiring from executive life in 2011, she is now an international company director whose portfolio covers financial services, international regulation, investment, technology, and international developments in capital markets and in accounting and auditing.

Jane was appointed an officer of the General Division of the Order of Australia in January 2003 for “service to business and commerce, to public administration, particularly in the areas of education and training, and to the community through a range of social justice, health, educational and cultural organisations”.

On International Women’s Day in March 2011 Jane was honoured by the Australian Government as one of the “Advance 50” current and emerging Australian women leaders globally.>

Jane holds degrees in arts and law, a Diploma of Education from Sydney University and a Diploma of International Law, International Economics and International Relations from the Australian National University. She was a Chevening Research Fellow at the London School of Economics.

She is also:

  • Barrister and Solicitor of the ACT Supreme Court and High Court of Australia
  • Barrister of the New South Wales Supreme Court
  • Fellow of the Institute of Public Administration Australia
  • Fellow of the New Zealand Institute of Management Inc
  • Fellow of the Australian Institute of Company Directors
  • Chartered Fellow of the New Zealand Institute of Company Directors
  • Member of Chief Executive Women, Australia
  • Member of Global Women, New Zealand
  • Member of the Belizean Grove, USA
  • Co-Chair of Women Corporate Directors New Zealand

Mr. Karel Van Hulle

(Member since 2014)

Prof. Karel VAN HULLE lectures at the Business and Economics Faculty of the KU Leuven and at the Economics Faculty of the Goethe University in Frankfurt where he is attached to the International Centre for Insurance Regulation. He served as Head of Insurance and Pensions at the European Commission (Directorate-General “Internal Market and Services”) until 1 March 2013. In that capacity, he represented the European Commission within the European Insurance and Occupational Pensions Authority (EIOPA) and was a member of the Technical Committee of the International Association of Insurance Supervisors (IAIS). He joined the European Commission in 1984 after spending 8 years with the Belgian Banking Commission. Before becoming Head of Insurance and Pensions in 2004, he was Head of Unit of Accounting, of Accounting and Auditing and of Financial Reporting and Company Law.

Prof. Van Hulle is a lawyer by training. He studied law at the KU Leuven and at the Marquette University Law School in Milwaukee (Wisconsin). He is a member of the Jan Ronse Company Law Institute at the Law Faculty of the KU Leuven and is a member of the Executive Board of the International Centre for Insurance Regulation at the Goethe University in Frankfurt.

Mrs. Maria Helena Pettersson

(Member since 2014)


Senior professional with over 30 years of experience in finance, accounting, internal controls and corporate governance having acted as coordinating partner serving various multinational and local listed companies in different sectors, involving large and complex audits and consulting engagements. Solid finance background, sound business and strategic skills, commercial skills, international experience, used to lead teams and interact with clients creating a collaborative and results oriented working environment. Extensive records of achievements, timely and accurate results and proven stakeholder’s satisfaction.


Independent Consultant and Board Member – July 2012 to present date

  • Independent credentials in serving large privately owned companies in improving governance and internal controls
  • Assisting emerging companies in preparing for growth and for debt and equity transactions
  • Serving as board member and as Audit Committee financial expert member
  • Vice President of Institutional Relations at ANEFAC – National Association of Accountants and Finance Professionals
  • Leading ANEFAC Women Executive Program

Ernst & Young – September 1991 – June 30, 2012 -- Audit Partner

  • Served large clients with excellence recognized by Shareholders, Boards and C-Suite Executives
  • Solid knowledge of the regulatory environment for public listed companies in Brazil and U.S.
  • Experience with internal and external accounting and financial reporting requirements
  • Annual and quarterly books closing cycle and IFRS adoption
  • Knowledge of SEC and CVM filings and demands
  • Experience with IPO and cross border transactions
  • Solid expertise of internal controls and SOX 404, including direct responsibility for the audit of SOX certifications for 2 Brazilian FPI and quality reviewer for several others
  • Experience with complex transactions such as business combinations, multiple element agreements, spin offs, new ventures and joint ventures, lease accounting and hedge accounting
  • Experience with Corporate Governance, including evolving from family owned to a public company, as well as large multinational corporations governance
  • Experience in recruiting, training, developing and leading teams
  • Experience with M&A activities: from business strategy, valuation, accounting, integration to synergy realization
  • Risk assessment and negotiations skills
  • IT platforms implementation or migration
  • Providing oversight, coaching, mentorship, direction and guidance to teams
  • Prepare, review and approve business plans and drive execution
  • Business advisor to senior executives at clients in transactions and reorganizations
  • Excellence in execution and timely delivery of duties
  • Preparing and conducting management and Board presentations
  • Lecturer at several professional organizations such as IBGC and ANEFAC
  • Significant commercial skills

PwC Sweden – May, 1989 – July, 1991 -- Audit Manager

  • Managing audit teams in Sweden and fully fluent in the Swedish language
  • Gained international experience in the accounting profession dealing with an advanced set of accounting principles at that time as compared to Brazilian GAAP
  • Gained experience in serving large public corporations as being part of international audit teams such as Ericsson and Electrolux
  • Exposed to best practices in financial reporting, internal controls and accounting serving large Swedish corporations

PwC Brazil – March, 1985 – September 1988 -- Audit Senior

  • Leading the field work execution of audits for several large companies
  • Interacting with financial management at large organizations
  • Managing time budgets and work completion deadlines
  • Attended several firm training sessions in Brazil and abroad

Mr. Jules Muis

(Member since 2014)

Jules Muis is a former Director General and Chief Internal Auditor of the European Commission (2001-2004); and Vice President and Controller of the World Bank (1995- 2000).

Prior to 1995 he practiced at Ernst&Young in senior client- and practice-management positions. Jules was Executive Partner of E&Y’s European operations from 1992-1994. 

In 1991 he was President of NIVRA, the Dutch Institute of Registered Accountants.

Throughout his career Jules has been actively involved in promoting and contributing to a broad range of systemic issues, from audit and accounting standard setting and quality control, strategic planning and micro and macro risk management, to institution building and good governance issues in a global setting, both in the public as well as the private sector.

In 2004, after his retirement from the European Commission and building on his previous experience, Jules made a world tour and took stock of the systemic risks in our financial system from an accountant’s perspective.

In December 2004 and the years following he shared his alarming conclusions at a public conference in the Netherlands and internationally : I.e. a fundamental breakdown of our overstressed, disjointed and undercontrolled financial system was an accident waiting to happen, for most of the same reasons we know to-day.

In 2005 he followed up his strong warnings with the publication of a (co-authored) survival kit for accountants and auditors for when the financial fragility shoe was to drop.

Post retirement, Jules stays engaged in the public debate on reform of the financial architecture.

He has held various oversight functions since, currently as an independent member of the Board of Auditors of the European Stability Mechanism (ESM) in Luxembourg.

Jules Muis is a Dutch Registered Accountant (RA) and lives in Washington DC.

Ms. Aileen Pierce

(Member since 2015)

Aileen Pierce is an EmeritusProfessor of University College Dublin (UCD), Ireland. She served as Chair of the Consultative Advisory Group (CAG) of the International Accounting Education Standards Board (IAESB) for three years from 2012, having represented the European Accounting Association (EAA) on the CAGfrom 2008.She has also served asDirector of the UCD Quinn School of Business (2007 to2010), President of the EAA (2009 to 2011), Chair of the Irish Accounting and Finance Association (2004 to 2005), member of EAA’s Management Committee (2003 to 2012), Congress Chair for the 29th annual congress of the EAA which was held in Dublin in 2006,member of the publications committee of Chartered Accountants Ireland (2006 to 2011), on the accounting standards committee of the Consultative Committee of Accountancy Bodies (CCAB) – Ireland (2002 to 2004), and as a member of the inaugural audit committee of An Garda Síochána (the Irish police force) (2006 – 2008).She is currently a member of the Board of Trustees for Enactus Ireland, and of the Resource Management Committee of the Camogie Association (an Irish female Sports’ organization).

Over her 35 years in UCD, Aileen specialised in financial accounting and reporting,teaching on both specialist accounting and general management, graduate,undergraduate and executive education programmes.She has supervised both PhD and other research students investigating a variety of issues related to the accountancy profession and to financial reporting.Moreover, she has led a curriculum reform group for undergraduate business programmes, culminating in the introduction of Personal Development Planning as a core element of the university’s undergraduatebusiness programme.

Aileen began her professional career by qualifying as an Irish Chartered Accountant with KPMG (then Stokes Kennedy Crowley) in Dublin in the late 1970s, following graduation with a first class honours Bachelor of Commerce degree from UCD. She subsequently became training manager with KPMG in the early 1980s, following an initial two years on the UCD academic staff. She returned to UCD in 1984 to resume her academic career, and completedher PhD in Heriot-Watt University, Scotland. Aileen has also taught accountancy at the University of Zambia(in the mid-1980s), deliveredprofessional development courses for Irish accountancy bodies, presented research papers at a variety of national and international academic conferences, has co-authored books on financial reporting practices, published articles in the academic and professional press, and has served on editorial boards, conference scientific committees,and as a peer reviewer for academic journals in accounting.

Ms. Karen Stothers

(Member since 2017)

Karen Stothers is Senior Director of the Office of the Superintendent of Financial Institutions Canada (OSFI), the independent Canadian federal government agency that regulates and supervises financial institutions and pension plans to determine whether they are in sound financial condition and meeting their requirements.

She began her career in the auditing profession in Canada where she became a Chartered Professional Accountant of Canada and then moved on to financial reporting, accounting policy and risk management for both Canadian and international purposes in US and Canadian Banks. 

In her current position with OSFI she is Head of a centre of expertise in accounting and auditing standards and processes for national and international accounting and auditing policy practices. She is the authoritative voice of OSFI with national and international liaison parties, e.g., standard-setters, regulators, auditors to ensure ongoing assessment of key national and international accounting and auditing standards and trends in order to influence their development and implementation through a variety of means. 

Karen is responsible for OSFI’s public interest role in the Canadian oversight of the setting of audit and assurance standards as the OSFI observer on the Canadian Audit and Assurance Standards Oversight Council. She is also a member of the Public Interest Oversight Board as the Basel Committee on Banking Supervision nominee. She also oversees OSFI’s positions with the Basel Committee on Banking Supervision’s Accounting Experts Group and the International Association of Insurance Supervisors’ Accounting and Auditing Working Group.

She has a Bachelor of Commerce and Finance from the University of Toronto.

Mr. Shigeo Kashiwagi

(Member since 2017)

Mr. Shigeo Kashiwagi has been teaching economic policy making and international finance at the Graduate School of Business and Commerce of Keio University, as a full-time professor between June 2007 and March 2016 and as a guest professor since April 2016. He has been teaching both undergraduate and graduate courses in English, on issues such as policy implications of economic globalization and regional integration, international finance, fiscal policies, and the Japanese economy.

Mr. Kashiwagi has written extensively on economic policy issues, international finance issues and the Japanese economy. He has also attended conferences and gave lectures and speeches at numerous fora in various countries.

Prior to joining academia, Mr. Kashiwagi was with the Japanese Ministry of Finance for a long time. He held various policy making positions in the areas of international finance, domestic financial sector issues, and macroeconomic policies. He was Director of International Organizations Division of the International Finance Bureau during 1993-94, Director of the Securities Market Division of the Securities Bureau during 1996-98, Director of the Coordination Division, Financial Systems Planning Bureau during 1998-1999, Director-General of the Tokai Regional Finance Bureau during 1999-2000, and Executive Vice-President of the Policy Research Institute during 2003-04.

During his 34-year career at the Japanese Ministry of Finance, Mr. Kashiwagi also acquired broad knowledge and wide experience with international financial institutions, in particular the International Monetary Fund (IMF) and the Asian Development Bank (ADB). He was seconded to the IMF on three occasions and spent 10 years in total in Washington DC; first, as an economist at the Asian Department during 1981-85, secondly, as a Senior Advisor at the Policy Development and Review Department during 2000-03, and thirdly as an Executive Director for Japan during 2004-07. He was also an Executive Director for Japan at the ADB during 1994-96.

Mr. Kashiwagi is also concurrently Senior Fellow, Policy Research Institute, Japanese Ministry of Finance. In this capacity, between July 2008 and November 2015, he served as non-resident First Vice-Rector of the Banking and Finance Academy of the Republic of Uzbekistan to contribute to the human resource development of this country, in the area of banking and finance.

In the corporate world, Mr. Kashiwagi has had considerable experience of sitting on the Board of a major financial institution and acquired hands-on experience of corporate governance matters. He was an outside-member of the Audit and Supervisory Board of the Tokai-Tokyo Financial Holdings Company between 2009 and 2016, and has been a non-executive Board member and a member of the Audit and Supervisory Committee of the same company since June 2016.

Mr. Kashiwagi was also a member of the Advisory Board of the Tokyo Metropolitan Government on its management and effective utilization of public funds, between 2010 and September 2016.

Mr. Shigeo Kashiwagi was born in 1950 in Japan. He received his BA in Economics in 1973 from Keio University and received his Master’s degree in Public Affairs in 1977 from Princeton University.

Markus Grund

(Member since 2018)

Markus Grund, CFA, joined the German Federal Financial Supervisory authority (BaFin) in 2003. 

Since January 2013 he became Chair of the International Association of Insurance Supervisors Accounting and Auditing working group.

Until 2016 he represented the IAIS within the IFRS Advisory Council.

Since 2016 he represents BaFIn within the advisory body of the German Auditor Oversight body. Internationally he has served as a member within IOSCOs Committee on Issuer Accounting, Audit and Disclosure, EBA-SCARA and ESMAs Corporate Reporting Committee.

He is still a member of the Basel Accounting Expert group.

Mr. Gonzalo Ramos

Secretary General of the PIOB (Since 2009)

Former Chair of the International Monetary Fund External Audit Committee



Executive Director for Spain and Mexico European Bank for Reconstruction and Development

Main responsibilities: to contribute to the EBRD corporate mission as a member of the Board of the Bank, and to represent the interests of Spain and Mexico in its operations, including working with bankers and companies to develop projects and partnerships.

Chairman of the EBRD Early Transition Countries Fund (2008)

This Fund was established in 2005 by a number of European donor governments including Spain. It supports EBRD projects in the most challenging countries of operations. Its governance is at the forefront of public international finance.

Chairman of the Financial and Operations Committee (FOPC) (2005-2007)

FOPC reviews and oversees all financial and operational policies of the Bank, monitors the Bank’s Treasury operations, and reviews the liquidity policy and borrowing programme. Additionally, it oversees transparency and accountability of the Bank’s operations.

Vice-chairman of Audit Committee (2005)

Director General for International Finance. Ministry of Economy and Finance (2000-2004)

Appointed by Rodrigo Rato, then Vice-president for Economic Affairs of the Spanish Government, to head international financial policy in the Ministry of Finance and to create a new Directorate General.

Main responsibilities:

Build a new team to develop an integrated and coherent international financial policy for the Ministry, specifically over the following issues:

  • International Financial Stability. International Monetary Fund.
  • World Bank and Regional and Sub regional Development Banks: EBRD, ADB, AfDB, IDB, and others.
  • All other European international financial institutions: EIB, BDCE.
  • Active External Debt Management. Paris Club negotiations. Development of debt swap processes.
  • EU External Development Fund, Financial policy.

Member of the Board of Trasmediterránea, S.A.

Member of the Board of Autoestradas de Galicia

Member of the Board of the European Council Development Bank

Senior Advisor in the General Directorate of the Treasury and Financial policy, Ministry of Economy (1999-2000)

Main responsibility was to advise Mr Rato on ECOFIN and IMF matters.

IMF Residential Course on Financial Programming.

Trade Commissioner of Spain in Malaysia, Brunei and Pakistan, Head of the Economic and Commercial Offices of Spain in these countries (1994-1999)

Assistant Permanent Delegate from Spain at the International Natural Rubber Organization.

Deputy Director General for Oil, Gas and Petrochemistry. General Directorate for Energy. Ministry of Industry (1990-1994)

Member of the Board of ENAGAS, S.A.

Member of the Board of Repsol Petroleos, S.A.

Main responsibilities:

  • Regulation of the process of liberalisation of the State monopoly in the oil sector in Spain.
  • Design and regulation of pricing systems for oil and gas products.
  • Regulation and development of the gas system, including infrastructures.

Advisor for External Trade in Energy Products and Special Operations (1989-90)

General Direction of External Trade, Secretary of State of Trade, Ministry of Economy and Treasury.



1988: Member of the Corps of Public Economists (Cuerpo Superior de Técnicos Comerciales y Economistas del Estado), Ministry of Economy, Spain.

1984: M. PHIL (Economics) by the University of Oxford (U.K.), St Anthony's College

M. PHIL Thesis: “Budget Deficits and Flexible exchange rates”

Tutor in Microeconomics, Brasenose College, University of Oxford

Referee for Oxford Economic Papers, University of Oxford

Beneficiary of “Overseas Research Studentship Award” from the University of Oxford, 1982-1984.

1982: B.A. (Hons) in Economics by the University of Warwick (U.K.).

Honours Degree in Economics by the Autonomous University of Madrid (Spain).

1977: International Baccalaureate at United World College of the Atlantic, South Wales, UK.



Consultant in SBS, Group Price Waterhouse, March 1986-July 1987

Consultant in Budgetary control, Control Presupuestario S.A. Madrid, September 1985-March 1986



Spanish (mother tongue), English (bilingual), French (fluent).

Basic German and Italian.



“Budget Deficits Flexible and Exchange Rates”, Bodleian Library, Oxford 1984.

The Spanish Energy External Balance in 1989, Economic Bulletin BICE, number 2236, June 4 1990.

Energy Relations: efficient supply policy, Economic Bulletin BICE, number 2283, 10-16 June 1991.

A more efficient regulation of the oil sector in Spain. Industrial Economics, nº 292, July-August 1993.

The New International Financial Architecture, Economic Bulletin BICE, number 2686, 26 March-1 April of 2001.

Advances in the New International Financial Architecture. Journal of Economía Exterior nº 18, Autumn 2001.

The Euro and Globalization. Revista de Occidente, nº 248, January 2002.

The Argentine Crisis and The Role of The IMF. RBW Seminar, New York, May 2002.



European Study Programme-Escuela de Organización Industrial, “Macroeconomic Traits of The Spanish Economy.” October 1999 and October 2000.

Argentina. Economic situation and Spanish financial support. Round-table on Argentina and MERCOSUR. Spanish Institute of International Relationships and Foreign policy. May 2001

New Strategies of Economic Cooperation. I Ibero-American Cooperation Seminar. “External Debt Conversion Programmes.” Ortega y Gasset Foundation. May 2001.

Spain and Development Finance. Globalization and inequality: the new agenda for Financing Development. Summer Courses at the Escorial University. August 2001.

Seminar on the Argentine crisis. Reinventing Bretton Woods, New York. May 2002

Seminar on the Argentine Crisis and NAFI. May 2003. Ministry of Finance and Reinventing the Bretton Woods Committee, Madrid, May 2003.

Miembro del policy panel del XVII Simposio de Moneda y Crédito, “The future of the enlarged European Union”, Madrid, 18th-19th November 2004.


(Member since 2020)

Public sector lawyer and consultant based in Wellington, New Zealand. He has a background in public sector legal practice, public and not-for-profit sector governance roles, experience as an independent adviser and reviewer, and international development work in the area of public sector governance and accountability.

His international work draws on his public law and governance experience gained since the 1980s. Most recently, from 2006 until 2019 he ran his own legal practice in Wellington, practicing as Robert Buchanan Public Law and Governance. Before then, He was Assistant Auditor-General, Legal at the New Zealand Office of the Auditor-General (1998 to 2006). He is also a former Director of the New Zealand Law Commission (New Zealand’s law reform agency).

This background gives him a unique combination of skills in law, governance and management, public finance, and auditing.

In July 2019, He ceased his legal practice to focus on his governance and consulting work and his role as Chairperson of the New Zealand Auditing and Assurance Standards Board.

His areas of specialty are:

  • Public sector governance and accountability, including the oversight roles of legislatures and supreme audit institutions.
  • Corporate governance and reporting, including the functions of audit and assurance and their interface with other dimensions of the governance and reporting "supply chain".
  • Capacity development in supreme audit institutions, including in respect of their independence and legal frameworks.
  • Public sector procurement, including systems for ensuring probity in procurement processes.
  • Professional occupational regulation.
  • Law reform and legislation, including legal drafting.

He provides international consultancy services, in his own capacity and in association with consultancy organisations. He has undertaken projects for The World Bank and the Asian Development Bank in South-East Asia and the Pacific, and work in the Pacific funded by the New Zealand and Australian aid programs. He has also published and presented papers internationally on public sector finance, governance, and accountability.