Accountancy Age: Hunt for new ASB chief begins

Discussions have already begun with members of the board though a front runner for the job has yet to emerge.

One observer close to the board said a candidate may emerge from outside the existing members. ‘Just look at any of the senior technical members of the big firms,’ he added.

An external candidate is thought likely because of the commitments of existing members and the relatively low salary the ASB will offer.

Board member David Allvey has only recently taken up his post as group finance director at Barclays Bank while John Coombe is finance director designate of the newly merged Glaxo Smithkline. Both are likely to find the salary on offer unattractive.

Sir David, who was appointed as chairman in 1990, has already had his term in office extended is keen to be to finish some of the board’s work on accounting for leasing, pensions and deferred tax before he goes.

Big hitters among the technical partners include Roger Davis of PricewaterhouseCoopers. A government advisor on the company law review and key player in the Turnball review of corporate governance, Davis has influence and respect within and outside the profession.

There are hints however that an academic may be sought for the post with Professor Geoffrey Whittington, of Cambridge University, is already a member of the board.

Audit threshold raised to £1m

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