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McCreevy Wants Commission to Start Funding IASB

Global Glimpses | January 30, 2009

The European Commission would start to give direct funding to the body that produces international accounting standards under proposals announced this week.

Currently the International Accounting Standards Committee Foundation (IASCF), which overseas and finances the rule-making International Accounting Standards Board, gets paid by European Union member states, but not by the Commission.

McCreevyHowever, Europe’s Internal Market and Services Commissioner, Charlie McCreevy, wants to start providing direct European funding, saying it would help the foundation to be independent.

The foundation is just one of the organizations that McCreevy said the Commission should finance. He also...

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