Damant’s appointment to the International Auditing and Assurance Standards Board comes at a crucial time as the board begins its independent operations.
IFAC reforms, approved in late 2003, clarified the role of the consultative advisory group, which will be responsible for setting standards on international auditing, assurance and quality control.
A former member of the International Accounting Standards Committee, Damant is a veteran in the UK investment sector.
IFAC president Rene Ricol, said: ‘Damant has the experience and integrity to chair the IAASB CAG and present important public interest perspectives. High quality auditing standards are needed in every part of the world to build investor confidence in capital markets. The support of independent regulators, users and preparers is critical to creating acceptance of the IAASB’s standards.’
UK senior partner Phil Verity has been elected for a second term at Mazars
An audit partner has been appointed at Grant Thornton in its North West offices
KPMG has been appointed with “immediate” effect as the auditor of Dorcaster
The audit for Ibstock will be taken over by Deloitte following a competitive tender process