RegulationAccounting StandardsUnease over global monitor

Unease over global monitor

FRC chief Paul Boyle warns that monitoring group for international standards could become too powerful

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
Standards
Committee Foundation, which oversees the International Accounting Standards
Board.

The proposed new group is intended to improve accountability of the
foundation.

‘Is this new group going to become the supreme governing body,’ Boyle told an
IASCF panel.

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
authorities.

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