Professor Warren McGregor

Accounting

  • Level 7, 198 Berkeley Street
    The University of Melbourne
    3010 Victoria
    Australia

In short

Warren McGregor has extensive experience in the setting of accounting standards and their application, globally, domestically and in both the private and public sector. He has a fractional appointment within the Department of Accounting, alongside his continuing involvement in public practice.

Warren’s research interests cover financial reporting and accounting standard setting.

In public practice, Warren provides advice on complex financial reporting issues and serves as an expert witness in litigation support. He is a partner in a boutique accounting consulting firm, Stevenson McGregor, and a senior consultant to PwC.

Warren is a former inaugural member and vice chairman of the International Accounting Standards Board, and the CEO of the Australian Accounting Research Foundation.

Biography

After graduating with a Bachelor of Economics (Honours) from Monash University, Warren McGregor completed a Diploma of Education before graduating with a Master of Economics, also from Monash University.  He then joined the Accounting Department in the Faculty of Economics and Politics at Monash University as a lecturer in 1978.

In January 1980, Warren joined the Australian Accounting Research Foundation (AARF) as a Senior Project Director, becoming its Chief Executive Officer in 1989 and holding that position until October1999. During those 19 years, Warren was intimately involved in furthering the establishment of standard-setting in Australia in both the public and private sectors and in building its reputation internationally.  Warren was also, during this period, heavily involved in developing accounting standard setting internationally.  He was the technical support to Australian representatives on the International Accounting Standards Committee for 17 years and an inaugural member of the G4+1 Group of national accounting standard setters.

In 1999, with Kevin Stevenson, Warren established the boutique advisory firm of Stevenson McGregor to provide high level technical advice to both domestic and international clients thereby utilising their detailed knowledge of the national and international accounting scenes. This included working with the Asian Development Bank supported by the Institute of Chartered Accountants Australia (ICAA) to establish the Institute of Chartered Accountants in Nepal (ICAN). The firm ceased to exist in 2001 when Warren was appointed to the International Accounting Standards Board (IASB) in London, Kevin Stevenson joining him soon thereafter as the IASB’s Director of Technical Activities.

During his ten-year term on the IASB, Warren held the positions of Chairman of the Strategy Committee, Chairman of the Insurance Working Group, Chairman of the Leases Working Group and Chairman of the annual World Accounting Standard Setters meetings. For the last three years of his term, he was the Acting Vice Chairman of the Board.  In his role as the IASB’s liaison in Asia Oceania, Warren was an ex-officio member of the Australian Accounting Standards Board and the New Zealand Financial Reporting Standards Board.

Warren has been heavily involved in introducing the accounting conceptual framework into Australian and international financial reporting (he authored the first international conceptual framework issued by the International Accounting Standards Committee (IASC) in 1989); in leading Australian standard-setting into the public sector in the 1980’s; in driving the shift in focus in Australia to international standards during the 1990’s, in particular through membership of the IASC and G4+1 group of national standard setters; in instigating and implementing the Norwalk Agreement between the IASB and the Financial accounting Standards Board in the USA, the Tokyo Agreement between the IASB and Accounting Standards Board of Japan and the Beijing Agreement between the IASB and the Chinese Ministry of Finance; in establishing interpretation in IFRS; in developing, positioning and implementing the 2005 IFRS stable platform; in driving the adoption of IFRS in Australia and New Zealand and, in helping to establish and position regional standard setting bodies in South East Asia, South Asia and ultimately the Asia Oceania Standard Setting Group.

Warren is recognized for his technical expertise in a wide range of accounting issues, including: IFRS vs US GAAP; conceptual frameworks; public sector and not-for-profit accounting; accounting measurement, asset impairments, business combinations, joint arrangements, liability recognition and measurement, revenue recognition, lease accounting and insurance accounting.  Whilst a member of the IASB, Warren was the Board member lead on the leases, insurance, business combinations and fair value measurement projects.

On his return to Melbourne in 2011, Warren was appointed as a Consultant to the Australian Accounting Standards Board and a Senior Consultant to PwC.

In 2015, Warren and Kevin Stevenson recommenced their consulting firm, specialising in financial reporting advice.

In 2019, Warren was appointed to the position of Melbourne Enterprise Fellow at the University of Melbourne (60% fractional), helping to connect the academe and the business community.

Warren is a Fellow of Chartered Accountants Australia and New Zealand, CPA Australia and the Institute of Public Accountants. He is an Adjunct Professor at Monash University, his alma mater.

Awards/citations

  • Inducted into the Australian Accounting Hall of Fame in 2013.
  • Outstanding Alumni Award for Achievements in Industry, Monash Business School, Monash University, 2019.