Gabriela Figueiredo Dias, president of the Portuguese Securities Market Commission), will become the first chairwoman of the International Ethics Standards Board for Accountants on Jan. 1, 2022, succeeding Dr. Stavros Thomadakis, who has led the IESBA since 2015.
Figueiredo Dias has a great deal of experience in international standard-setting, legal and regulatory structure and governance and academia. Currently she runs the authority responsible for regulating and supervising the markets of financial instruments, covering listed companies, asset managers, auditors and investment firms in Portugal, providing strategic direction to the board, managing the organization and representing it before international organizations such as the International Organization of Securities Commissions and the Organization for Economic Cooperation and Development, the European Commission and the European Securities and Markets Authority, along with the Portuguese government, the National Council of Financial Supervisors and market stakeholders.
Figueiredo Dias holds a master’s degree in law from the Coimbra University Law School.
“I am honored to be selected as the next IESBA chair during this critical time of transition for the board and the profession,” Figueiredo Dias said in a statement Wednesday. “As president of the Portuguese Securities Commission, I have advocated for strong international standards, based on robust ethical principles and developed with the public interest in mind. The IESBA’s work in setting high-quality, internationally appropriate ethics standards for auditors, including in respect to their independence, and other professional accountants in business, the public sector and public practice, is critical to the integrity and robustness of the global financial system and architecture, and I look forward to leading the IESBA in playing an impactful role toward a more sustainable global economy and society.”
Outgoing IESBA chairman Stavros Thomadakis praised his successor. “Having experienced firsthand the demands of this role, I am confident Gabriela’s knowledge of the field and unwavering commitment to enhancing ethics on behalf of the public interest will be invaluable assets to the IESBA,” he said in a statement. “I look forward to Gabriela’s service to the IESBA and believe she will be a strong and assiduous proponent of the board’s collective vision.”
Figueiredo Dias’ appointment was recommended by the IESBA’s interim nominating committee after an independent and extensive global search. Her appointment was also endorsed by the IFAC board and approved by the Public Interest Oversight Board, which oversees the IESBA.
"I’m pleased to convey that the Interim Nominating Committee recommended Ms. Figueiredo Dias via a very competitive process," said Makoto Sonoda, who chairs the interim nominating committee, in a statement. "The committee has full confidence in Ms. Figueiredo Dias who will bring her extraordinary experience, a clear vision, and a vast network to the IESBA, all of which will contribute to the board’s public interest mandate and mission of strengthening ethics standards globally.”
