US lobbying group takes on IASB online

Link: US group attacks IASB stock options rule

This week the International Employee Stock Options Coalition, or IESOC, launched It is ‘designed to inform and educate the public about the importance of broad-based employee stock options and the adverse effects that mandatory expensing will have on employees, investors, businesses and the economy’.

The move is a backlash to plans by the International Accounting Standards Board headed by Scottish accountant Sir David Tweedie.

Opponents have accused the IASB of attempting to bury opposition to the proposed changes.

Rick White, IESOC chairman, said he was ‘troubled’ that the IASB would not release comment letters it has received until the end of April after the board had reviewed them.

White said: ‘The IASB decision sends an unfortunate message to investors and the markets: that secrecy, not sunshine, will guide its work.’

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