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Campbell announces new CALDB [Companies Auditors Liquidators Disciplinary Board] Chairman [Philip J L King]

SYDNEY lawyer Philip JL King has been appointed as the new Chairman of the Companies Auditors Liquidators Disciplinary Board, the Parliamentary Secretary to the Treasurer, Senator Ian Campbell, said today (TUE).

Mr King - assuming the chairmanship from Trevor Haines, who announced his retirement earlier this year - practised corporate law from 1963 to 1995 as a partner and consultant of Sydney law firm Allen Allen and Helmsley.

Senator Campbell said Mr King had worked in a wide range of corporate law areas.

"It is important to have a strong and experienced person like Mr King heading the CALDB, because the community expects auditors and liquidators to act honourably when discharging their duties," he said.

"Mr King will be a valuable asset to CALDB through his wide experience in dealing with auditors from both sides of the boardroom table, both as a director and in legal practice as an advisor to auditors.

"Mr King has already had some experience on a disciplinary board serving as a member of the Professional Conduct Committee of the NSW Law Society."

Senator Campbell said a number of auditors and liquidators were referred to the CALDB by the Australian Securities Commission (ASC) each year for a decision on disciplinary action.

"Auditors and liquidators need to be aware of their responsibilities to the community, and know that they will be referred to the CALDB by the ASC if they fail to carry out their duties adequately and properly," Senator Campbell said.

Other members of the CALDB include Grahme Dixon (ASCPA member), Brian Morris (deputy to Mr Dixon), Bruce Robertson (ICAA member) and Peter Barrett (deputy to Mr Robertson).

Further information:

Simon Troeth, Senator Campbell's office, 06 277 3955; 0418 637 474