Michael Wells, Professor of Practice (Finance) has been appointed to the inaugural UK Endorsement Board (UKEB)
Following an open call for nominations and a rigorous recruitment process, Michael is one of two academics selected to join a diverse group of leaders from the public and private sector who bring a wealth of experience, knowledge and expertise to the 10-member board. Together they will work to ensure that the UK capital market retains its status as a transparent global hub for business, inward capital and investment.
The UKEB was set up to endorse and adopt new or amended international accounting standards on behalf of the UK. The Board will conduct research to ensure that the UK is at the forefront of developing opinions in accounting. It will also actively contribute to influencing the development of financial reporting internationally, helping to ensure that UK views are effectively represented in this important area.
Speaking of his appointment, Michael said, “I am delighted to be appointed a Board Member of the UKEB and very much look forward to contributing to the further development of the standards that specify the financial information that businesses must provide external resource providers with for use as potential inputs in making investing and lending decisions”.
Professor Alex Michaelides, Head of the Department of Finance at Imperial College Business School said, “This appointment will serve well the Business School’s mission to educate and inspire future leaders of business and society”.
The UKEB will report to the Secretary of State for the Department for Business, Energy and Industrial Strategy on technical matters and to the Financial Reporting Council Board on its governance and due process procedures. The Board will also include observers with speaking rights from relevant organisations including government departments and regulators.