Volcker fuels US accounting chief scrap
Paul Volcker, trustees chairman at the International Accounting Standards Committee, has added to the chaos surrounding the appointment of a figure to lead the new US accounting watchdog.
The former chairman of the US Federal Reserve Bank is said to be supporting the appointment of John Biggs, the pension fund executive, to lead the new US public accounting oversight body, according to the FT.
But Harvey Pitt’s leadership of the US Securities & Exchange Commission has been thrown into disarray after some Republicans and the White House expressed reservations about the appointment of Biggs due to the feeling that he has a too hard-line approach.
Before this emerged, Pitt was poised to appoint Biggs to the post, but he has since been forced into stating that Biggs had not yet been offered the job.