The chief accounting watchdog has warned that a proposed monitoring group for
the international accounting standards setter could become too powerful and
could interfere with the board’s agenda.
Financial Reporting Council chief executive Paul Boyle raised his concerns at
a roundtable reviewing the constitution of the International Accounting
Committee Foundation, which oversees the International Accounting Standards
The proposed new group is intended to improve accountability of the
‘Is this new group going to become the supreme governing body,’ Boyle told an
He said there was concern that the group might ‘inappropriately’ get involved
in ‘agenda setting’.
The proposed group is intended to link the organisation and public
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