Sir David Tweedie has been named as chairman-elect of the International Valuation Standards Council (IVSC) board of trustees.

His appointment is seen as an important step forward in the effort to implement international standards in valuation that will improve public, investor and government confidence in the profession following the global economic downturn.

Ken Creighton, RICS director of professional standards, says: "Sir David led the International Accounting Standards Board (IASB) through a period of unprecedented success. We are confident that with his leader ship and experience it won’t be long before the profession unites behind international valuation standards.

"Valuation is vital to quality financial reporting; the countries having adopted international financial reporting standards would benefit from the adoption of international valuation standards. IVS underpins IFRS. Sir David Tweedie is the perfect person to make this point."