Rachel Grimes AM
Citation
Rachel Grimes has held several senior positions in the accounting profession while working on a voluntary basis in various leadership roles both within Australia and globally. Rachel graduated Bachelor of Business – Accounting at the University of Technology Sydney before starting her career at PricewaterhouseCoopers Sydney where she worked in audit, specialising in banking. A career shift into the finance sector led to senior roles with BT Australia, Westpac and Challenger. Rachel Grimes has been a dedicated and active volunteer in the leadership of the accountancy profession, both nationally and internationally. She was appointed to the board of the International Federation of Accountants (IFAC) in 2012, chaired the Planning and Finance Committee, served for two years as Deputy President from 2014 and in 2016 assumed the role as chair for a further two years. As IFAC chair, Rachel Grimes was the second female and second Australian to hold this auspicious position. As a global organisation for the accounting profession, Rachel was the ambassador for three million accountants worldwide. As Deputy President of IFAC Rachel was responsible for setting a three-year strategy for IFAC. As a member of the senior ranks of IFAC Rachel championed the public interest by playing a significant role in the future of global standard setting for audit and assurance, and ethics. Rachel advocated strongly for the public interest and advanced a multi-stakeholder model in which no single organization or interest can exert undue influence on standard-setting. Her advocacy has helped to make it possible for international audit and assurance and ethics standards to remain workable and continue to facilitate transnational business, employment and economic growth. Rachel is a Fellow of the Chartered Accountants Australia and New Zealand (CA ANZ), a Fellow of CPA Australia and a fellow of Institute of Public Accountants (IPA). She was elected President of the former Institute of Chartered Accountants in Australia (ICAA) in 2011 having previously served as NSW State Chair in 2004. As President of the ICAA, Rachel established the foundations for a successful merger between the Australian and New Zealand member bodies. As President, Rachel established a focus for future ICAA and CA ANZ Boards, State Councils and all advisory groups, to review all ethics materials to create greater awareness and test the changing forces of ethics within the community. Through her influence she embedded the philosophy that ethics is not just about complying with the letter of the law but doing the right thing in the community. Rachel has continued to promote ethics throughout the profession while sitting on the Australian Professional and Ethical Standards Board. Rachel Grimes is a mentor who has leveraged her expansive network to champion and model diversity, evident in her recruitment of high-quality women into finance. In 2022 Rachel Grimes was appointed a Member of the Order of Australia for ‘significant service to business in the field of accountancy and to professional associations’.