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David Tweedie, Chairman of IASB

Wednesday 15 December 2010 - by Will Henley

 With a reputation as a firebrand in international finance, Sir David Tweedie is, by most measures, the most powerful accountant on the planet and comes 45th in the GFS Power 50.

Scheduled to hang up his boots at the International Accounting Standards Board in June next year after more than a decade at the helm, Tweedie has fiercely resisted claims that its fair value accounting standards helped cause the financial crisis.

Throughout 2010, he has been beavering away to design and introduce new accounting standard IFRS9, the successor to IAS39, which industry groups criticised for being overly restrictive and cumbersome.

The chairman has gone on record to say that the new standard, which includes changes to hedge accounting rules, will "completely transform the accounts of financial institutions".

The Scot has argued that keeping the US on board with standard setting is key to ensuring that rules are obeyed internationally and has worked closely on convergence with the country's authorities, especially the Financial Accounting Standards Board.

Tweedie has described 2011 as a "window of opportunity" for the US and the world and warned that, if it is not seized, international standards could "disintegrate".


Learn more about the GFS Power 50, a countdown of the most influential people in worldwide financial regulation in 2010.


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