EC puts IASB accountability demands in writing
Submission to standards-setters pressures for greater European influence and accountability.
The European Commission has put in writing its demands that Europe has greater influence over international accounting standards-setters.
In a submission to the International Accounting Standards Committee Foundation over proposed changes to its constitution, the EC insisted that a clear preference be given to countries that applied the standards or are to do so in the near future. The same method would also be used for appointing trustees.
The demands echo calls made by internal market commissioner Charlie McCreevy when speaking to Accountancy Age last week.
‘We sent our recommendations to the constitutional review and we don’t think they have taken on board our discussions,’ said McCreevy. ‘The main goals are to have more accountability and transparency in the selection process for trustees.’