Gabriela Figueiredo Dias, chair of the International Ethics Standards Board for Accountants, has been reappointed for a second term, beginning Jan. 1, 2025 and ending Dec. 31, 2026.
Figueiredo Dias has been leading the global ethics board since January 2022. During her first term, she spearheaded the IESBA through a strategy shift, including strategic initiatives that strengthened the relevance and widened the impact of the IESBA’s International Code of Ethics on innovative matters.
Gabriela Figueiredo Dias
Victor Machado/Bluepeach
She has also been leading development of new standards such as the soon-to-be-released sustainability-related standards, which will lay a foundation of ethics and independence as part of the global standards infrastructure for sustainability reporting and assurance.
The reappointment comes at a significant time for the IESBA, as the board pursues a bold Strategy and Work Plan for 2024-2027, with a special focus on two strategic areas: culture and governance of accounting firms, and exploring extending the impact of the IESBA Code beyond its traditional scope. Other priorities include initiatives to address topics such as auditor independence in relation to collective investment vehicles, and the evolving role of CFOs. Figueiredo Dias’ first term has already brought progress on some of these priorities.
“I am honored to continue to lead the important work we are advancing at IESBA in the public interest,” Figueiredo Dias said in a statement Wednesday. “In times when ethics matters increasingly for sustainable businesses, markets and economies, it is essential that our standards meet the highest public expectations. Ethics is not optional. It is the bedrock of the accountancy profession and of the public trust in the profession’s work. I look forward to progressing the ambitious agenda we have set, with the critical collaboration of our stakeholders, as we address the complex ethical challenges our world faces today.”
Before joining the IESBA, Figueiredo Dias served as chair of the Portuguese Securities Market Commission and was a board member of the International Organization of Securities Commissions and the European Securities and Markets Authority. She also served as vice-chair of the Organization for Economic Cooperation and Development’s Corporate Governance Committee.
Figueiredo Dias will be eligible for another term in 2027. “Under Gabriela’s leadership, the IESBA has tackled important projects over the past three years, which are in many instances groundbreaking and elevating the ethics agenda,” said Public Interest Oversight Board chair Linda de Beer in a statement. “The vital work on Sustainability and External Experts projects, coming to conclusion, being most pertinent. We are therefore glad to be able to renew Gabriela’s important leadership role as chair of the IESBA for a second term, in the first Standard Setting Board chair re-appointment process fully in the hands of the PIOB. We have done this in close consultation with the Monitoring Group Chair and other stakeholders who have a keen interest in the work of the IESBA. We wish Gabriela well for the term ahead, in continuing to steer the IESBA’s ambitious Strategy and Work Plan, which include the very important project on Firm Culture and Governance, central to the public interest.”
The Public Interest Oversight Board, which oversees IESBA and the International Auditing and Assurance Standards Board, also announced several other new appointments and re-appointments to the IESBA and the IAASB this week that will take effect in January.
The PIOB appointed Channa Wijesinghe, CEO of the Accounting Professional & Ethical Standards Board of Australia. as vice-chair of IESBA for a two-year term, following his re-appointment to the board. Nancy Miller, managing director of KPMG US, and Obichukwu Nwazota, managing consultant of UGN Consulting Services in Nigeria, were appointed as new IESBA members. Mark Babington, executive director of the U.K.’s Financial Reporting Council, and Christelle Martin, a former ENGIE senior executive in France, were re-appointed for three-year terms, and Richard Huesken, a consultant and recently retired global independence leader at EY US, for a final year of service.
For the IAASB, Josephine Jackson, director of international audit and assurance standards policy at the U.K.’s Financial Reporting Council, was re-appointed as IAASB vice-chair for a final year of service. Nancy Cheng, audit committee chair at Shared Services Canada; Amaro Gomes, audit committee member at Banco Bradesco; Xiaoyue Sun, partner at BDO China; and Mikiko Ono, director of sustainability disclosure regulations at Recruit Holdings in Japan were appointed as new IAASB members, and Bill Edge, former chair of Financial Reporting Council and Auditing and Assurance Standards Board of Australia, and Neil Morris, global head of ESG assurance and methodology at KPMG, South Africa. were re-appointed, all for three-year terms.
Big Four firm PwC announced new agentic AI capacities, including a model that proactively identifies areas of value leakage and acts inside the tools teams already use to fix them itself.
The new solution, Agent Powered Performance, combines continuous AI-driven insight with embedded execution to address the problem of businesses only finding problems when they have already hurt performance. By actively monitoring and working inside the client’s existing systems, though, PwC’s agents can actively and autonomously address such issues.
The software, which is supported by PwC’s recently released Agent OS coordination platform, is embedded in enterprise systems to sense where value is leaking, think through the most effective performance strategies using predictive models and industry benchmarks, and act directly in tools like ERP or CRM software to make improvements stick.
The system connects directly into ERP environments, continuously monitors key metrics, and acts inside the tools teams already use. For example, a supply chain agent might detect rising shipping costs and automatically reroute deliveries to reduce spend. Finance agents can spot and correct billing errors before they reach the customer. Clients typically see measurable efficiency gains in the first quarter, with continued improvements over time as the system learns and adapts.
“Too many transformations still rely on one-off pilots and stale data, stretching the gap from insight to impact and suffocating ROI,” said Saurabh Sarbaliya, PwC’s principal for enterprise strategy and value. “Agent Powered Performance flips the economics by distilling PwC’s industry transformation playbooks into AI agents that turn static insights into compounding gains, without rebooting each time.”
Agent Powered Performance is platform-agnostic and built on an open architecture so it can work across different LLMs based on client preferences and task-specific needs. It works with major enterprise platforms including Oracle, SAP, Workday and Guidewire.
By integrating this standard, agent systems registered as MCP servers can be used by any authorized AI agent. This reduces redundant integration work and the overhead of writing custom logic for each new use case. By standardizing how agents invoke tools and handle responses, MCP also simplifies the interface between agents and enterprise systems, which will serve to reduce development time, lower testing complexity, and cut deployment risk. Finally, any interaction between an agent and an MCP server is authenticated, authorized and logged, and access policies are enforced at the protocol level, which means that compliance and control are native to the system—not layered on after the fact.
This means that agents are no longer siloed. Instead, they can operate as part of a coordinated, governed system that can grow as needs evolve, as MCP support provides the interface to external tools and systems. This enables organizations to move beyond isolated pilots toward integrated systems where agents don’t just reason, but act inside real business workflows. It marks a shift from experimentation to adoption, from isolated tools to scalable, governed intelligence.
Research Composer
Finally, a PwC spokesperson said the firm has also launched a new internal tool for its professionals called Research Composer, a patent-pending AI research agent embedded in the firm’s ChatPwC suite, designed to accelerate insight generation by combining web data with PwC-uploaded content.
Professionals will use the Research Composer to produce in-depth, citation-backed reports for either the firm or its clients. The solution is intended to enhance the quality of client work by equipping teams with research and strategic analysis capabilities.
The AI agent prompts users through a step-by-step research workflow, allowing them to shape how reports are packaged—tailoring the output to meet strategic needs. For example, a manager in advisory services might use Research Composer to evaluate white space opportunities across industries or geographies, drawing from internal reports and up-to-date market data.
Eide Bailly, a Top 25 Firm based in Fargo, North Dakota, is growing its presence in the Pacific Northwest by adding Traner Smith, based in Edmonds, Washington, effective June 2, 2025.
Traner Smith’s team includes two partners and 16 staff members and specializes in tax compliance and advisory services. Financial terms of the deal were not disclosed. Eide Bailly ranked No. 19 on Accounting Today‘s 2025 list of the Top 100 Firms, with $704.98 million in annual revenue, approximately 387 partners and over 3,500 employees.
Eide Bailly already has offices in Seattle, but hopes to grow further in the Pacific Northwest. “We’re pleased to welcome the talented team at Traner Smith to Eide Bailly,” said Eide Bailly managing partner and CEO Jeremy Hauk in a statement Monday. “Their expertise with high-net-worth individuals, real estate and privately held businesses aligns well with our strengths, and their client-centric approach is a perfect cultural fit. Having an office in Edmonds, Washington, is a great complement to our existing presence in Seattle. Together, we’re poised to deliver even greater value to families and businesses in the Seattle metro area.”
“Joining Eide Bailly is a natural next step for us — it provides access to deeper technical resources in areas like state and local tax, national tax, succession planning and international tax while allowing us to continue the personalized service our clients value,” said Kevin Smith, a partner at Traner Smith, in a statement.
“With this expanded support and platform, we’re excited to grow our reach, elevate what we do best, and help more clients than ever before,” said Shane Summer, another partner at Traner Smith, in a statement.
Eide Bailly has announced several other mergers in recent weeks. Earlier this month, it added Hamilton Tharp, a firm based in Solana Beach, California, and Roycon, a Salesforce consulting firm in Austin, Texas. In late April, it merged in Volpe Brown & Co., in North Canton, Ohio. Eide Bailly expanded to Ohio last year by merging in Apple Growth Partners. Last year, Eide Bailly also sold its wealth management practice to Sequoia Financial Group. The deal with Sequoia appears to be fueling the recent M&A activity. As part of the deal, Eide Bailly Advisors became part of Sequoia Financial, while Eide Bailly received an equity investment in Sequoia.
Top 100 firm BMSS announced an investment in Knuula, an engagement letter and client documents software provider. The investment from BMSS came after successfully implementing Knuula over the past year to streamline its engagement letter process. It was after doing so that the firm’s leadership came to believe that Knuula could create complex client documents at an enormous scale, which was a huge need for the broader accounting industry. BMSS thought this presented a great opportunity to guide Knuula and help facilitate its growth.
“We began working with Knuula in Spring 2024 to streamline our engagement letter process,” said Don Murphy, Managing Member of BMSS. “It quickly became clear that Knuula was not only a strong solution for us, but also an ideal partner in advancing industry-wide automation.”
While the specific terms of the deal were not disclosed, a spokesperson with Knuula said that, after this investment, BMSS and a collection of 21 of their partners now own 13% of the company. The investment represents not some passive revenue deal but an active collaboration between the two companies, with the spokesperson saying they will be working closely together on things like product development, new features, improvements, and networking.
The deal comes about a year after Knuula integrated with QuickFee, a receivables management platform for professional service providers, which allowed users to have engagement letters directly connecting to their QuickFee billing platform, tying the execution of the letter directly to the billing process.
“We’ve long sought to partner with a firm focused on strategic innovation in the accounting space,” said Jamie Peebles, founder of Knuula. “To develop a perfect solution for large firms, it is ideal to have a partner that is willing to work closely together and iterate quickly. This requires constant feedback between our two teams. The IT team from BMSS worked with our development team constantly and helped us iterate rapidly. We also had consistent input from partners, manager, and administrative staff to help us make valuable changes to Knuula. BMSS was a perfect partner for us.”