Sir David Tweedie, former chairman of the International Accounting Standards Board, has now been given another global remit, that of chair for the International Valuation Standards Council's (IVSC) Board of Trustees.
Tweedie - credited in the profession for taking IFRS to the rest of the world and playing a pivotal role in establishing the agenda that set the path for the US to consider converging its accounting standards with that of global standards - takes up the role at the end of October, and will be responsible for the strategic direction of the IVSC.
The former IASB chief will find his new priorities similar to those he faced in the early days at the IASB, as the IVSC seeks to promote recognition and adoption of the international valuation standards among the world's major economies and to lead the development of the valuation profession worldwide as demand has increased for this, following the financial crisis.
Tweedie said that standardised valuation practice is now vital in order to provide a consistent approach to portfolio and asset valuation and to improve the confidence of both investors and users of valuation services.
'Improved confidence will benefit capital markets and contribute to the growth of strong economies around the world.
'I am pleased to be joining the IVSC at this important time for the valuation profession and look forward to continuing to build confidence and public trust in the valuation process,' Tweedie said.
He succeeds Roel Campos, who has served as interim chairman since Michel Prada stepped down as chairman in December 2011.
Campos welcomed Tweedie's appointment saying: 'David has been one of the most influential and respected players on the global financial stage in recent years. Regulators across the world know him and respect him. Having led the IVSC search for a permanent chair, I and the entire Board of Trustees are delighted and honoured that David has agreed to become chairman of the IVSC. He is someone who will be committed to promoting global valuation standards and guidance and the development of the valuation profession globally.'
