Paul Volcker is to be replaced by a distinguished Italian banker as head of the trustees who oversee international accounting standards, while Sir David Tweedie has been reappointed as chairman of the standard setters.
The appointment of Tommaso Padoa-Schioppa, a putative candidate for the role of governor at the Bank of Italy and a former European Central Bank board member, was one of several changes announced yesterday in an effort to improve accountability at the International Accounting Standards Board.
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Also see IASB Press Release.
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