Sir David Tweedie - Biography
Sir David was educated at Edinburgh University (BCom 1966, PhD 1969) and qualified as a Scottish Chartered Accountant in 1972. After qualifying he taught accounting for six years at Edinburgh University.
He was appointed Technical Director of The Institute of Chartered Accountants of Scotland (ICAS) in 1978 and moved in 1982 to the position of national technical partner of the then Thomson McLintock & Co.
In 1987 his firm merged with Peat Marwick Mitchell & Co and he was appointed national technical partner of the merged firm - KPMG. During this period he was also Vice Chairman and then Chairman of the UK's Auditing Practices Committee ( the committee charged with setting the UK's auditing rules) from 1986 to 1990 and the UK's sole representative on the International Auditing Practices Committee from 1983 to 1988.
In 1990, in response to national concerns about the state of British financial reporting, the government and the accounting profession instituted the Accounting Standards Board to reform the UK's accounting standards and Sir David, an outspoken critic of the then accepted accounting practices, was appointed its first full-time Chairman - a post he held for ten years while revising UK standards. As a result of his success in the UK, in January 2001 he was selected by Paul Volcker, chairman, and the other international trustees of the IASC Foundation to be the first Chairman of the International Accounting Standards Board (IASB) and CEO of the Foundation. He led the Board for ten years until his term ended in June 2011.
The objective of the IASB was to produce a high quality set of accepted global accounting standards. In 2001, only a handful of countries used international standards (IFRS) but by 2011 over 120 countries (including those in the EU, most of Latin America, Australasia, Canada, Korea and Japan) required or permitted their use. The USA is expected to announce a path to adoption of IFRS in the next few months - a decision awaited by China, India and Japan before they move to mandatory adoption of the international standards.
During his tenure at the IASB he met on a regular basis with government ministers and senior officials in Australia, China, the EU, Japan and the USA. He appeared on several occasions before ECOFIN ( The committee of EU Finance Ministers), the EU Parliament, the US Senate Banking Committee and the UK Parliament's Treasury Select Committee. He was a member of the Financial Stability Board and came into regular contact with the President of the ECB, the Governor of the Bank of England, the Chairman of the FSA, the Chairman of the SEC, the Chairman of the US PCAOB and other international regulators.
He is a Fellow of the Judge Business School at Cambridge University and a visiting Professor of Accounting in the Management School at Edinburgh University, having previously held visiting professorships at the Universities of Lancaster and Bristol. He has received honorary degrees from eight British universities.
He was knighted in 1994 and has been awarded The Institute of Chartered Accountants in England and Wales??? Founding Societies Centenary Award for 1997, The Chartered Institute of Management Accountants??? Award for 1998, The International Federation of Accountants International (IFAC) Gold Service Award for 2011 and The International Accounting Bulletin Lifetime Achievement Award in 2012 ??? all for services to the Accounting Profession.
Sir David became President of ICAS in April 2012. He chairs the Royal Household Audit Committee for the Sovereign Grant. He also chairs the board of trustees of Leuchie House, Scotland's charity giving respite care to those with degenerative diseases.