The International Accounting Standards Board
(IASB) has published a detailed time line of the process for
identifying a successor for current IASB chair David Tweedie.

The newly published time line follows claims
in the media earlier this week that European internal markets
commissioner Michel Barnier was unhappy with a lack of transparency
in the recruitment process.

Barnier’s office refused to comment on these

The search for Tweedie’s replacement began in
September 2009 and international executive search firm Spencer
Stuart was appointed to assist with the process.

As a new chairperson has yet to be found, the
next stage of the search will take place at a meeting of the IFRS
Committee’s trustees nominating committee in September, the IFRS
Committee oversees the IASB and is responsible for nominating

The new chair is expected to be named at a
trustees meeting in October.

Tweedie has chaired the IASB for nine years
and is due to retire in June 2011.