CMVM President takes on international regulatory position

  • ECO News
  • 6 October 2021

Gabriela Figueiredo Dias will become president of IESBA, the New York-based independent body that sets the ethical and deontological rules for professionals such as accountants and auditors.

Gabriela Figueiredo Dias will lead an independent international body that regulates good practices and ethics for accounting professionals, including auditors. IESBA is an independent body based in New York that sets the ethical, deontological and behavioural standards for financial reporting professionals.

The still president of the CMVM – who has already finished her term and is waiting for the official appointment of Gabriel Bernardino to leave – is due to take office in January 2022, but is expected to begin a transition process as early as mid-November. Gabriela Figueiredo Dias will succeed the Greek chairman.

IESBA is an independent organisation that, based on principles of self-regulation, brings together leaders from over 150 countries for the international definition of behavioural and ethical standards to be adopted by professionals responsible for financial reporting: auditing, accounting, insurance and quality control.

In practice, Gabriela Figueiredo Dias will be the world regulator of ethical standards for auditing and financial reporting and she reached this position through an international competition, which she applied for in the middle of the year.

ECO contacted Gabriela Figueiredo Dias and the IESBA but did not obtain any comments, but the official announcement of this appointment should be made soon.