New body of regulators proposed to sit above the IASB's trustees
The head of the SEC is to press for a panel of international regulators to oversee the International Accounting Standards Board.
As the US regulator inches towards allowing US companies to file under International Accounting Standards – a move expected this month – the Wall Street Journal reports that SEC chairman Christopher Cox has said he wants a 'public policy oversight body' to sit above the trustees of the IASB.
The international accounting setter has been attacked recently for its governance arrangements, prompting the drafting in of Gerrit Zalm as chairman of the International Accounting Standards Committee Foundation to enhance its relationship with politicians.
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