IVSC Appoints Sir David Tweedie as its Chairman

The IVSC has appointed Sir David Tweedie as the Chairman of the IVSC’s Board of Trustees. Tweedie will occupy the position starting from 29^th October 2012.

The International Valuation Standards Council reinstated that as the chairman of the IVSC, Tweedie will use his knowledge and experience to assist IVSC in advancing its priorities by promoting the adoption and recognition of the International Valuation Standards in some of the leading economies of the world. Tweedie will also spearhead the development and advancement of the profession of valuation across the globe and bring it together with the users of regulators, valuation, opinion formers and legislators.

Sir David has been a former chairman of the IASB as well as the United Kingdom Accounting Standards Board. During his stint at the IASB and ASB, he played a key role in the overhauling of the global and UK accounting principles and standards. Sir David also spearheaded the adoption of IFRS in more than hundred countries across the world. Through his experience, Sir David will work in the direction of supporting the International Valuation Standards Council in its tasks of promulgating effective valuation related standards across the globe and minimizing diversity in the manner in which the standards are used in numerous countries.

Sharing his views on the appointment, Sir David stated that the global economic and financial downturn has revealed the importance of valuation and its effect on the finance related markets. Valuation related practice that has been standardized, across different business segments, has now become important in order to offer a constant approach to asset and portfolio valuation as well as to enhance the confidence of users and investors of valuation related services.

He also mentioned that improvement in confidence will be beneficial for capital market and also contribute towards the development and growth of strong countries across the globe.

Sir David will take over the Chairman’s post from Roel Campos, who served IVSC as the Interim Chairman after Michel Prada chose to step down as the IVSC Chairman in the month of December in 2011.

When contacted Campos stated that Sir David is an influential person and regulators across the globe respected him a lot. Campos also mentioned that Sir David will work hard to promote valuation standards globally and enhance the profession of valuation across the world.