Regulatory board for accountants hits snag

US - The process of setting up the new regulatory board for accountants is being delayed because of a dispute over one possible member, Donald Kirk, a former regulator criticised for being too close to the audit profession.

The new Public Company Accounting Oversight Board is the cornerstone of US efforts to shore up the integrity of public company audits and overhaul regulation of the accountancy profession, the Financial Times reported.

It will be a five-person board with members chosen by th