Prestigious accolades for St Andrews economist

Wednesday 14 September 2005

A University of St Andrews economist has secured two prestigious accolades in just one month.

Professor Gavin Reid, who already holds a number of high-profile positions within business and higher education circles, has been appointed President of the Institute of Contemporary Scotland (ICS), just weeks after winning an award in accounting and finance.

His appointment to the ICS was announced at the Institute’s AGM in Glasgow today (Thursday 15 September 2005). He will replace former President Rowena Arshad OBE.

The Institute of Contemporary Scotland seeks, through its events and projects, to stimulate awareness and discussion of the issues facing Scotland socially, economically and culturally. Further information is available at

Professor Reid’s appointment comes just weeks after he was awarded the International Federation of Accountants Prize (IFAC) for his research paper, ‘When our chip comes in’, which was written in conjunction with Dr Julia A Smith, University of Cardiff Business School and first published in Financial Management in 2004. The paper looks at how venture capitalists can make informed decisions when appraising investments in high-technology firms whose inventions are still in the early stages of development. It was judged to be of ‘outstanding merit’ by the panel of their Professional Accountants in Business Committee. The presentation was made on 1 September at the RAE Forum Programme meeting of the Chartered Institute of Management Accountants (CIMA) in London. The award of a certificate and trophy was made by Charles Tilley, CEO of CIMA. IFAC coordinates 163 professional accounting bodies worldwide, in 119 countries, and has a membership base of 2.5 million. Further information is available at

Professor Reid, Director of CRIEFF (Centre for Research into Industry, Enterprise, Finance and the Firm) at the University of St Andrews, holds a number of high- profile positions including President of the NCUP (the National Conference of University Professors) – the national network of academics which aims to promote beneficial developments in the UK university system.

Professor Reid said, “It has been a busy and surprising month. One tries hard to balance research and scholarship with community involvement and this has been a happy coincidence. I hope both to build on my research and broaden my involvement in the Scottish polity in the year to come”.


Issued by Beattie Media On behalf of the University of St Andrews For more information, please contact Claire Grainger, Press Officer – 01334 462530, 07730 415 015 or [email protected]; Ref: press releases/gavinreid2005 View the latest University news at

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