PwC global leader calls time… Spice appointed KPMG CFO… Deloitte names IFRS insurance leader… US releases IFRS road map…
PwC global leader calls time
Samuel DiPiazza is to stand down as global chief executive of PricewaterhouseCoopers (PwC) after seven years in the role.
DiPiazza said: “With our new network organisation and leadership structure in place I felt the time was right to begin the process of handing over to new leaders. I have been extremely proud to serve as global CEO of PwC for the last seven years. We have achieved a great deal, often in challenging times, cementing PwC’s position as market leader and developing the right strategy for long-term success.”
A PwC veteran of 35 years, DiPiazza said he will continue to work closely with colleagues to ensure there is a smooth transition to new leadership.
Spice appointed KPMG CFO
Helen Spice, 44, has been promoted to chief financial officer of KPMG International. Spice has 23 years of experience at the network. She began at KPMG UK and has held senior positions in the Europe, Middle East, Africa and India regions. Recently, Spice was part of KPMG’s international leadership team. She will relocate to Toronto, Canada, and report to KPMG International chief executive Michael Wareing.
US releases IFRS road map
The US Securities and Exchange Commission (SEC) has released its long-awaited road map proposing the use of IFRS by US issuers. The 165-page proposal, which was initially announced in August, provides more detail on moving the world’s largest economy from the use of US GAAP to the international accounting standards by 2014. The SEC said it would make a decision in 2011 on whether to proceed with mandatory adoption for all companies. As many as 110 qualifying companies could opt to begin using IFRS in fiscal years ending after 15 December 2009 – estimated to be about 14 percent of US market capitalisation.
Deloitte names IFRS insurance leader
Deloitte UK partner Francesco Nagari is to lead the firm’s IFRS insurance practice globally. Deloitte UK insurance leader Mark FitzPatrick noted that the insurance industry had not been significantly affected by IFRS to date but this is about to change and would create a significant demand for accounting.