Wednesday, June 18, 2008

IASB summit? Freedom is the ability to work and have money left over or invest OPM.Who is invited to this Junteenth Party? ....from Tejas?

original by James Langton

This is the place to chase the money and where reparations should be paid from

The world’s securities authorities announced plans for the creation of a group to monitor the International Accounting Standards Committee Foundation, which, in turn, oversees the International Accounting Standards Board.The International Organization of Securities Commissions, the European Commission, Japan's Financial Services Agency and the US Securities and Exchange Commission issued a joint statement welcoming a meeting organized by the IASCF regarding the creation of an IASCF Monitoring Group.The IASCF is the private foundation that provides public interest oversight to the IASB, which promulgates International Financial Reporting Standards. The IASCF Monitoring Group will provide for organized interaction between national authorities responsible for the adoption or recognition of accounting standards for listed companies and the IASCF.The monitoring group would also participate in the selection and approval of IASCF trustees, and the trustees would regularly report to the group on their oversight of the IASB. The monitoring group’s role will be designed to ensure the independence of the IASB, while reinforcing the public interest oversight provided by the trustees.On June 19 representatives of IOSCO, the SEC, Japan's FSA, and the EC will participate in a roundtable regarding the review of the IASCF constitution.“We are pleased at the progress being made in advancing interaction between securities authorities and the IASCF. The increased adoption and use of IFRS in capital markets around the world necessitates strengthening the accountability of the Foundation to the authorities responsible for setting financial disclosure requirements by public companies," said the statement attributed to SEC chairman Christopher Cox, IOSCO executive committee chairperson Jane Diplock, FSA commissioner Takafumi Sato, and European Internal Market and Services commissioner Charlie McCreevy.“In organizing the upcoming roundtable, the Foundation acknowledges the need to create a mechanism for interaction between securities authorities and the IASCF that approximates the historical relationship between securities authorities and national standard setters. This, in turn, will enable securities authorities that allow or mandate the use of IFRS to discharge their mandates relating to investor protection, market integrity and capital formation effectively,” they added

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