RegulationAccounting StandardsAxa chief attacks IASB

Axa chief attacks IASB

International standard setting should be in the hands of politicians, insurance chief claims

The chief executive of Axa, France’s biggest insurer, has rounded on the
International Accounting Standards Board claiming standard setting was too
important to be left to accountants alone.

The remarks from Henri de Castries were reported in the
Financial
Times today
.

The paper quotes de Castries saying the standard setter is accountable to no
one and standards were an ‘instrument of political sovereignty’ that should not
be left to accountants.

The IASB is currently some standards including the issue of fair value
accounting.

Read more

US
convergence must be kept under ‘close review’

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