Stephen Haddrill, director-general of the Association of British Insurers, says that the International Accounting Standards Board needs to become more effective in dealing with regulators, companies and investors or it will face political roadblocks in its efforts to set accounting standards. "Who do we want to set accounting standards? Not politicians, that's clear. But neither do we want experts vacuum-packed in a world of their own," Haddrill wrote in a recent commentary.
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