From: Controller and Auditor-General Kevin Brady

16 October 2008

New Executive Director for Audit New Zealand

Stephen (Steve) Walker has been appointed Executive Director of Audit New Zealand - the Auditor-General's business unit responsible for carrying out 80% of annual audits in the public sector.

Mr Walker is currently based in New York where he is Director of Operations for the International Federation of Accountants (IFAC). He will take up his leadership role at Audit New Zealand in January 2009.

Announcing the appointment, Auditor-General Kevin Brady welcomed the fresh perspective and broad experience that Mr Walker will bring to Audit New Zealand, with a homegrown touch.

``We will be welcoming back one of our own, as Steve trained in our own Office from 1987 to 1993 as a starting point for a successful international career.’’

Audit New Zealand has more than 200 staff located in seven offices throughout the country. Mr Walker fills the vacancy left by Terry McLaughlin, who moved on to the role of Chief Executive of the New Zealand Institute of Chartered Accountants.

``It is gratifying to see how well our people do at both national and international levels,’’ Mr Brady said.

Qualifying as a New Zealand Chartered Accountant in 1993, and holding a Bachelor's degree with First Class Honours in Commerce and Administration from Victoria University, Mr Walker has built a successful international career. He has been based in London, Wellington, and New York and has performed roles in external and internal audit, financial reporting standard setting, policy development, strategic planning, governance, public sector management, training development and delivery, and executive operational management.

Mr Walker has worked with the Institute of Chartered Accountants of New Zealand as a Policy Manager and Project Manager - Accounting Standards, and internationally as a technical manager supporting the IFAC Public Sector Committee (now the International Public Sector Accounting Standards Board).

He has held the position as IFAC Director of Operations since September 2002. His primary responsibility in this role, as a member of the Executive Management Team, is to ensure that the organisation is run in an effective and efficient manner.

ENDS

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