At their meeting last week in London, the IVSC’s board of trustees announced former UK Chancellor of the Exchequer Alistair Darling as their newest member. Darling brings further celebrity and visibility to the business valuation and financial instruments standards world, having served as chancellor during the last economic crisis from 2007 to 2010. And ‘Alistair embodies the organisation’s commitment to building confidence in valuations,’ said Sir David Tweedie, chair of the IVSC board.
Darling’s initial response to the appointment is a refreshingly concise statement of what those in the business valuation profession have long accepted: ‘Getting valuation right matters. Valuation data plays a vital role in so many aspects of the global financial system. It acts as an enabler for prudent business and investment decisions, as an important element of company financial reporting, and as part of the mechanism for managing macro prudential risk,’ he said.
Darling also held UK ministerial roles at Treasury, as Secretary of State for Work and Pensions (1998-2002); Transport (2002-06); and Trade and Industry (2006-07). He was appointed to the House of Lords in 2015.