Harvey Pitt, chairman of the Securities and Exchange Commission, the main US financial watchdog, is expected to sketch ‘broad concepts’ for a professional oversight panel to regulate accountants.
The US already has a Public Oversight Board designed to ensure governance in the profession is upheld.
Pitt however is expected to propose a framework that will include non-accountants as well as accountants. This would echoe the current profile of the new UK accounting watchdog the Accountancy Foundation.
Pitt will hold a news conference at 6:30GMT (1:30EDT) in Washington.
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Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day