Board of Directors

The APESB constitution allows for the appointment of seven directors to the Board, six of whom are drawn from the three professional accounting bodies. The seventh director is the chairman. The chairman is required to be an independent person who is not a member of one of the professional accounting bodies.

Ms Nancy Milne OAM

Ms Nancy Milne OAM brings over 30-years' experience as a lawyer working on large commercial cases involving risk and compliance, to her role as Chairman at APESB. As a partner at Clayton Utz, her accounting and indemnity work established her strength in stakeholder management, dispute resolution and governance. She has also developed an in-depth knowledge of the regulatory environment within the financial services sector. Nancy holds a Bachelor of Law from the University of Sydney. She is a Fellow of the Australian Institute of Company Directors. Nancy was a recipient of an Order of Australia Medal in 2008 for services to the legal sector and the community.
Since 2003, Nancy has taken up a variety of governance roles, focusing on improving business performance. She is Deputy Chair at the State Insurance Regulatory Authority, a non-Executive Director at FBR Limited, a Director at Pacific Opera and a Director at the Benevolent Society. She is a Council Member for the Asbestos Safety and Eradication Agency Council.

Date of appointment: January 1, 2019

Ms Claire Mackay

Ms Claire Mackay is a Principal and Head of Advice at Quantum Financial, a leading independent financial planning firm. Previously, Claire worked in structured tax at PwC and Macquarie Bank and she was an industry nominated Panel Adjudicator for the Financial Ombudsman Service. Claire is admitted to the NSW Supreme Court; she holds a Bachelor of Commerce and a Bachelor of Law from Macquarie University and a Masters of Law from Sydney University. Claire is a Fellow of Chartered Accountants Australia and New Zealand.
Claire is a qualified Chartered Accountant (SMSF and Financial Planning Specialist), a Certified Financial Planner, a Certified Practising Accountant, a Chartered Tax Advisor and a Graduate Member of the Australian Institute of Company Directors. Claire is a Director of the Australian Financial Complaints Authority, a member of the Finance Audit and Compliance Committee of Surf Life Saving NSW; the Professional Standards and Conduct Committee at the Financial Planning Association, and a member of RMIT's Program Advisory Committee for the School of Accounting.

Date of appointment: July 1, 2016

Mr Brian Morris

Mr Brian Morris is the Principal of Morris Forensic, a specialist forensic accounting practice. Over the years, Brian has served on a variety of Board and Committee positions. From 1983 to 2014, he was a partner at Edward Marshall, specialising in audit, forensic accounting, valuations and management consulting services. He was also the firm's managing partner and chairman of partners at various times.
Brian is a Fellow of both Chartered Accountants Australia and New Zealand and CPA Australia and a Member of the Australian Institute of Company Directors. Brian is the Chair of the Audit & Risk Committee of the Courts Administrative Authority, a member of the Stratco Group Advisory Board, Audit Committee of the Art Gallery of South Australia, and the editorial committee of the Australian Accounting Review.

Date of appointment: January 1, 2019

Ms Rachel Grimes AM

Ms Rachel Grimes AM is the former Chief Financial Officer of Challenger Limited. Rachel is the past President of the International Federation of Accountants (IFAC) (2016-2018). Previously, Rachel spent over two decades with Westpac in senior finance roles and she was co-lead of the merger between Westpac and St George. She is a strong advocate for Diversity and Inclusion in the workplace and was a finalist in Westpac's internal Women of Influence Awards Inclusion & Diversity category from 2013 – 2015.

Rachel is a Fellow of the Institute of Public Accountants, Chartered Accountants Australia and New Zealand and CPA Australia. Rachel became a member of the Order of Australia in 2022 for her services to business in the field of accountancy, and to professional associations.

Rachel is the Chair of the Finance and Risk Committee of Surfing Australia, Deputy Chair of Digital Finance CRC and a Member of the Financial Reporting Council (FRC). She is also a Director of Hub24, Australian Payments Plus and the Loreto Ministries Limited.

Date of appointment: February 1, 2019

Mr Colin Murphy PSM

Mr Colin Murphy PSM is the former Auditor General for Western Australia, where he served the Parliament of Western Australia for more than 11 years. Colin is also a past AUASB Board member.
Colin holds a Bachelor of Commerce degree from the University of Western Australia. Colin is a Fellow, former Board member and Past State President of CPA Australia and a Fellow of the Institute of Chartered Accountants in Australia and New Zealand. He is also a Graduate of the Australian Institute of Company Directors and a past President of the Institute of Public Administration Western Australia. Colin received CPA Australia's President's Award and a Meritorious Service Award and was also awarded the Public Service Medal (PSM) in the 2010 Australia Day Honours.
Colin is a Commissioner of the Gaming and Wagering Commission WA. He is a Director of the Winston Churchill Memorial Trust Australia, Wajarri Enterprises Ltd, and an independent Director of Winja Wajarri Barna Ltd. He is a Board member of ChemCentre Western Australia and South Metropolitan Health Services Board WA. Colin is the Chair of the WA Audit and Risk Committees for the Department of Education, the Department of Justice, the Department of Water and Environmental Regulation and the Department of Training and Workforce Development Western Australia.

Date of appointment: May 1, 2020

Mr Damien Moore

Mr Damien Moore has been a Director at PwC since 2021. He has worked in the Accounting and Finance industries for over 25 years. During that time, Damien has operated his own accounting firm along with working for ASX listed companies such as St George Bank, BHP & Elders Ltd.
Damien was a board Director of the Institute of Public Accountants for 12 years having held the roles of Vice President, Deputy President, Global Chair & President. During his time on the board, Damien was a member of various committees including Board Audit & Risk Committee, Membership Committee, Remuneration Committee, and the Board Executive.
Damien is a Fellow of both the Institute of Public Accountants and Institute of Financial Accountants (UK) and a Chartered Tax Advisor of The Tax Institute of Australia. He holds a Master of Commerce (Professional Accounting) through the University of New England and is a Graduate Member of the Australian Institute of Company Directors and a Registered Tax Agent.

Date of appointment: November 17, 2022

Ms Dianne Azoor Hughes

Dianne has more than 35 years of experience in business, with expertise in governance, risk and audit. She was previously Technical Standards Partner, Pitcher Partners, providing technical leadership from 2001- 2014.
Dianne served as a Board Member of the Australian Auditing and Assurance Standards Board (AUASB) from 2004-2012.
Since leaving professional practice in 2014, Dianne has had various governance and leadership roles, including:
- Facilitating collaboration across firms in the Baker Tilly International network for global audit related projects
- Chair of the Monash University Department of Accounting Advisory Committee
- Independent member of the Audit Committee for the Victorian Legal Services Board + Commissioner
- Independent member for the Audit and Risk Committee member for the Victorian Building Authority
Dianne promotes sustainable business, enhancing financial evaluations by employing both integrated reporting practices and social impact reporting as measures of performance.
Dianne is a Fellow of Chartered Accountants Australia and New Zealand and a Member of the Australian Institute of Company Directors (AICD). Dianne holds a Masters of Business Law and a Postgraduate Diploma in Advanced Accounting from Monash University. Dianne is also the author of the Financial Fundamental texts published by AICD.
Dianne is currently chairperson of St Kilda Gatehouse (a registered charity), a board member for Gospel Resource Ltd (a manufacturing social enterprise and registered charity), and an independent member of the Audit Quality Board of MHA MacIntyre Hudson (UK).

Date of appointment: February 1, 2023

APESB at a Glance

The Accounting Professional & Ethical Standards Board (APESB) is an independent, national body that sets the code of ethics and professional standards with which accounting professionals who are members of CPA Australia, CA ANZ or IPA must comply. The APESB is equally funded by CPA Australia, CA ANZ and the IPA.

Mission & Vision

Issuing professional and ethical standards that are relevant to members of the Professional Accounting Bodies while serving the public interest.


The Accounting Professional & Ethical Standards Board (APESB) corporate structure is one of a company limited by guarantee.

Annual Reports

Read about our key strategies, work plan and engagement activities.

APESB mobile app

Access APESB pronouncements on the go.

Register for APESB Updates

Thank you! Your subscription has been confirmed. You'll hear from us soon.