Tadeu Cendon, one of two new members of the International Accounting Standards Board (Board), had just finished university when he discovered a passion for accounting. More than 30 years later, and he says he has reached the pinnacle of his career with this most recent appointment. ‘It’s a big achievement and I’m very proud of it,’ he says, adding that he is looking forward to working collaboratively with his fellow Board members in setting IFRS Standards.
Just a few weeks after he joined the Board in July 2019, Tadeu took some time to share his story.
How will your previous experience help you in your new role?
For most of my career I’ve been an auditor. Early on, I was told to learn to put myself in the clients’ shoes. An auditor must listen closely to his client, and learn to see the world from their perspective. But an auditor must also listen to other interested parties, such as standard-setters and regulators. This is essential in problem-solving, especially in complex situations.
I want to take a broader view when I think about the people and organisations involved in standard-setting. The accounting framework focuses on the ‘primary users’ of financial statements but I’d like to think more deeply about other stakeholders too.
What are you most looking forward to in your new role?
I hope that my experience and knowledge will enable me to quickly learn about the Board’s current projects. I’m anxious to make a meaningful contribution to the Board’s discussions just as soon as possible. As a Board member, I’m especially keen to understand the views of everyone involved in the standard-setting process. I’m looking forward to this process of learning and sharing.
What have you enjoyed most about being a member of the Board?
It’s only been a short while, but I enjoy the diversity of the opinions expressed by my fellow Board members and by the technical staff. We all learn a lot all the time. Every day we’re able to challenge ourselves and question the fundamentals of our thinking.
What’s the role of financial reporting in today’s global economy?
A single set of standards, especially a high-quality set of standards, means that companies can provide trusted and useful information to investors. In an ideal world, a single set of shared standards should bring more stability to the global economy by reducing complexity and increasing comparability.
What makes our mission of transparency, accountability and efficiency meaningful to you?
By focusing on these three ideals, the IFRS Foundation can continue to develop accounting standards that allow markets to work fairly. Bringing transparency, accountability and efficiency to global financial markets means that useful information can be delivered to all stakeholders, not just investors
How did you end up following a career in accounting?
At a child, I wanted to study engineering, but I enrolled in business school instead. It was only when I started working as an auditor that I knew I had discovered my passion.
And when you’re not working and following your accounting passion, what do you get up to in your spare time? My family and I have just moved to London from Brazil and I try to spend as much time as possible with them. I used to enjoy fishing but I’m now more of a runner. More broadly, I’m looking forward to exploring and enjoying European culture, both in the UK and on the continent—working in London should provide us with a perfect opportunity to do that.
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