A leading group of investors has urged regulators to move quickly to appoint a new chairman at the US accounting watchdog because of fears that business is seeking to weaken flagship legislation that is supposed to improve financial statements.
The Council of Institutional Investors expressed concern at how long it is taking to choose the next chairman of the Public Company Accounting Oversight Board, the auditors' watchdog established by the 2002 Sarbanes Oxley law that followed accounting scandals at Enron and WorldCom.
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