EY Australia launches new public interest council

Ernst & Young Australia has established the Oceania Public Interest Council and appointed Sue Kench as its independent chair to oversee audits and professional services.

The council will provide external perspectives and advise Oceania executive leadership on policies and the public interest implications of decision-making.

“I’m conscious of the need to strengthen trust in Australia’s professional services sector following recent scrutiny, and I’m committed to ensuring that EY in the region maintains its legal and regulatory compliance, as well as continuing to act in the public interest,” said EY Oceania Independent Chair Sue Kench.

Alongside Kench, the council will include two independent non-executives, Oceania Managing Partner and CEO David Larocca and Risk Management and Independence Leader Leigh Walker.

EY stated that recruitment for the council's two remaining independent non-executive positions has commenced.

The establishment of the new council follows a global governance review conducted by the accounting network.

The initiative also follows recent sector-wide scrutiny and regulatory changes affecting accounting and audit firms in Australia.