Treasurer Joe Hockey has announced that an Australian Accounting Standards Board member has joined the Foreign Investment Review Board (FIRB) as a part-time member.
Alice Williams will join the board for a five-year period and replaces Anna Buduls who has served on the FIRB for five years.
Ms Williams has over 25 years of senior management and board-level experience in corporate and government sectors and investment banking, specialising in strategy and policy development, corporate advisory and funds management, competition policy and regulation.
She has been a consultant to domestic and international airlines and regulatory bodies, is a member of the Australian Accounting Standards Board, a director of State Trustees Ltd and a commissioner of the Victorian Competition and Efficiency Commission. She is a non-executive director of Cooper Energy, Port of Melbourne Corporation and Victorian Funds Management Corporation.
Mr Hockey expressed his appreciation of the “valuable contribution Ms Buduls has made to the FIRB over that period.”
The FIRB is a non-statutory body established in 1976 to advise the treasurer on the government's foreign investment policy and its administration. The board's functions are advisory only.
Responsibility for the policy and for decision-making on foreign investment proposals rests with the treasurer of the day. The Foreign Investment and Trade Policy Division within the Treasury also advises the treasurer on foreign investment matters and provides secretariat support to the board.