SEC gets breather on global accounting body — Reuters

The United States has won a three-year stay on its membership of an accounting oversight panel, keeping alive hopes for a single set of global book-keeping rules that will help investors assess companies….

The U.S. foot-dragging raised questions about its membership of the IASB Monitoring Board, made up of five global regulators including the U.S. Securities and Exchange Commission, the European Commission and Japan’s Financial Services Agency.

The board said on Friday it had toughened up membership criteria to prepare for expansion to include members from emerging markets, and would check in 2016 if members met new conditions.

via SEC gets breather on global accounting body — Reuters