Last year, Sir David Tweedie, chairman of the International Financial Accounting Board (IASB) announced that he will retire from his role in June 2011. Though this might seem a long way off, people are starting to turn their thoughts as to who should succeed him.
Whilst it wouldn’t be appropriate for me to suggest potential candidates, whoever takes over the reins will need to have top-notch technical skills, a thorough understanding of financial reporting issues and some in-depth knowledge as to how various standards and practices impact preparers and users in countries worldwide. They will have to be a consummate diplomat, able to engage and communicate effectively with stakeholders across the world including government ministers, their officials, regulators and other key bodies.
What is most important is that the IASB gets the right man or woman for the job. They shouldn’t rule an individual out just because of where they come from. British candidates should be considered if they have got the right skills and qualifications (though to be clear, I would rule myself out!)
Sir David has achieved a huge amount during his tenure and I’m sure will do a lot more in the next 15 months. Some of the issues in his in-tray today will have been resolved in that time, to be replaced by others as pressing and urgent. So whoever succeeds him will have a very challenging, and I’m sure also very exciting, job on his or her hands.