RegulationAccounting StandardsThe hunt for the new Tweedie begins

The hunt for the new Tweedie begins

IASB begins global search for new chairman

The hunt for the next leader of the international accounting rule maker has
begun more than a year and a half before the current chairman sets foot out the
door.

The International Accounting Standards Board will begin scouring the planet
in search of a replacement for IASB chairman Sir David Tweedie, due to step down
in June 2011.

The body has been keen to address concerns about transparency from the US
which is considering adopting on international standards and is now in the
process of converging international and domestic accounting codes.

In a statement the IASB said it has begun the process at this early stage “in
order to allow time for the broadest international search possible, and to
ensure a smooth transition”.

Spencer Stuart, the international executive search firm, has been brought in
to advise on the process. They expect to make a decision in the second half of
2010.

The position is one of the few true international postings, drawing power
from the IASB’s ability to deliver high quality standards.

However as the body tries to deal with concerns from countries such as France
and Germany, while also engaging economic powerhouses like Japan and China and
fostering development in emerging nations, Tweedie’s replacement will have to be
as much diplomat and politician, as he will accountant and academic.

Further
reading:Trustees
seek nominations for Chairman of the IASB from 2011

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