Celebrating outstanding individual contributions to the advancement of accounting in Australia, the 7th Australian Accounting Hall of Fame Awards were attended by over 100 guests from the industry, government and academia to honour and celebrate the lifetime achievements of those who have shaped the sector.
Michael spent over fifty years with PwC holding several international and national executive positions after graduating with a BEc from the University of Sydney.
In a career distinguished by service, Michael’s most noteworthy contribution to the profession was as Chairman of the International Accounting Standards Committee (IASC) from 1995 to 1997 - a time of irreversible movement towards the harmonisation of financial reporting throughout the world. As chair, Michael was instrumental in the adoption of these standards by over 100 countries, with many others progressing towards adoption which has had far-reaching benefits for the global economy. During this period, he also established a review of the structure of the IASC to enhance its independence, which led to the formation of the International Accounting Standards Board.
In 1982, Michael was elected President of the Institute of Chartered Accountants Australia and worked tirelessly to support the professional education of chartered accountants and the accreditation of accounting programmes at universities around Australia. In 1999, the University of Sydney awarded him the honorary degree of Doctor of Science in Economics, noting his significant contribution to the development of the theory and practice of accounting and auditing.
Assurance Managing Partner Peter van Dongen congratulated Michael, and said the achievement was testament, and a tribute, to an illustrious career.
He added: ‘The accounting profession in Australia has a long and distinguished history, and Michael truly is one of its most eminent members, whose successes and impact has been profound and far-reaching’.
The team has just signed the contracts with the Commonwealth Department of Education and Training for a major project to advise them on the transition of 185 regional and remote, mainly Indigenous, early childhood centres currently funded under the Budget Based Funding (BBF) program into the higher quality mainstream early childhood system.
These centres are spread across every State and Territory including in some of the most remote Indigenous communities in Northern and Central Australia, and are a mix of not for profit organisations, Aboriginal Corporations, Local Government operated centres and schools.
Increasingly, from both science and practice, we are understanding that a good start to life is critical to the development of all children, but this is particularly true for those children come from vulnerable families and communities. By helping to implement this transition, PIC and PwC can make a major contribution to the life trajectory of thousands of Indigenous and other children in some of the more remote and disadvantaged communities in Australia. This project will draw in many staff from all over Australia, who will have an opportunity to make a difference for children and the Indigenous community.
The project involves developing a framework for the transition, then visiting each of these centres and making an initial assessment of their readiness, and then helping them on the ground and on-line with the planning for and implementation of the transition.
The combination of PIC and PwC's in-depth knowledge and experience on early childhood with PIC's unique understanding of and credibility with the Indigenous community created a highly differentiated offering for the client.
It also confirms PwC as the leading adviser on the early childhood sector in Australia, and consolidates PIC's position as the leading Indigenous consulting firm in Australia.
Congratulations to James van Smeerdijk, Zac Hatzantonis, Michael Maher and William Van at PwC and Jason Eades, Jenny Scott and Sharron Noske at PIC.
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