David Boymal AM


David Garry Boymal's contributions to accounting through standard setting, service to the profession and wider business community is extensive. From his appointment to the Australian Accounting Research Foundation's Accounting Standards Board in January 1982 to his retirement as chair of the Australian Accounting Standards Board (AASB) in November 2008, David was involved in national and international standard setting for nearly three decades. This service encompassed the profession's Accounting Standards Board and Urgent Issues Group, the International Accounting Standards Committee (IASC) and the statutory AASB, culminating in his appointment as chair of the latter during 2003-2008. David's contribution to international standard setting is demonstrated by his membership of IASC working parties which drafted the Framework for the Preparation and Presentation of Financial Statements and the very complex lAS 32 Financial Instruments Disclosure and Presentation. As AASB chair during 2003-2008, David guided the introduction of International Financial Reporting Standards into Australia, perhaps the most important change in financial reporting experienced in this country. Another major project was harmonising the macro-economic oriented Government Financial Statistics with GAAP-based financial reporting requirements for Australia's three levels of government. Trans-Tasman collaboration was also progressed through joint meetings of the Australian and New Zealand (NZ) standard setting boards and moves towards common financial reporting requirements. During 1994-1995, David was Australia's observer on NZ's Accounting Standards Review Board when the policy of closer economic relations with NZ was written into Australian corporations law. David's reputation in standard setting also saw him invited to give presentations at important national and international conferences and events, culminating in his delivery of the 63rd CPA Australia-University of Melbourne Annual Research Lecture. David's standard setting work coincided with a twelve-year stint as councillor and office-bearer for CPA Australia. Senior offices held included State President (1992-93) and National President (1998-99). Service to CPA Australia was followed by three years as Australia's representative on the International Federation of Accountants (IFAC), including membership of IFAC's Board of Directors. He is the only Australian to have served both as a director of IFAC and a member of IASC. As a practitioner and audit partner with EY, David was responsible for a number of major audit clients and held senior roles in the firm's national and international operational and policy committees. His reputation as practitioner facilitated appointments to key audit and regulatory roles including the National Audit Office and Australian Securities Investment Commission. Following his retirement, David has used his extensive knowledge of accounting standards as an expert witness and contributions to accounting education and research in Australia. In 2000 David Boymal was recognised with the award of Life membership of CPA Australia and in 2010 he was made a Member in the Order of Australia “for services to accountancy and to the development and implementation of financial reporting standards in Australia”.’

The Australian Accounting Hall of Fame honours David Garry Boymal as an international accounting standard setter, office holder and practitioner.