|
WASHINGTON (AP) - The Securities and Exchange Commission will have greater influence over the appointment of members to an accounting standards body under an agreement hammered out earlier this month, current and former members of the board said Wednesday.
A foundation that oversees the Financial Accounting Standards Board set out the agreement in a letter to SEC Chairman Christopher Cox March 9. The letter said that the foundation will notify the SEC of potential appointments to the board under a specified timetable, and allow commissioners to nominate their own candidates.
The SEC will also be able to interview contenders for open board seats under the arrangement.
|