Tweedie says IASB will not bow down to US demands simply for the sake of convergence
European bodies worried that accounting convergence will mean the adoption of US-style standards have been reassured by the head of the global accounting standards-setter.
Speaking to the accounting regulatory committee at the European Commission, Sir David Tweedie, chairman of the International Accounting Standards Board, said the body would not bow down to US demands simply for the sake of convergence.
‘Many have expressed the concern that the FASB will dictate the outcome of discussions,’ said Sir David.
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