RegulationAccounting StandardsEU told to fund private-sector oversight bodies

EU told to fund private-sector oversight bodies

Accounting bodies need “independent financing”

The European Commission on Monday told the European Union that it should help
fund private sector financial oversight groups to make them more accountable.

EU funding for the International Accounting Standards Committee Foundation
(IASCF), the Public Interest Oversight Body, (PIOB) and the European Financial
Reporting Advisory Group (EFRAG) would reduce conflicts of interest, EU
spokesman Oliver Drewes told Associated Press.

EU governments and the European Parliament would need to approve the new
funding.

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