11/12/2008

IASB Chairman Sir David Tweedie says he thought about resigning when the European Commission pressured the accounting standards body to change its rules without public consultation. He said IASB relaxed fair-value accounting standards, rather than see the European Commission "carve out" the rules, effectively making all rules governing fair value in Europe disappear. Tweedie said any further meddling risked destroying the effort to move toward a single global set of accounting standards.

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