Padoa-Schioppa to join IASB

Paul Volcker is to be replaced by Tommaso Padoa-Schioppa as head of the trustees who oversee international accounting standards.

The appointment of Padoa-Schioppa, a candidate for the role of governor at the Bank of Italy and a former European Central Bank board member, was one of several changes announced in an effort to improve accountability at the International Accounting Standards Board.

The switch from a US chairman goes some way to addressing European Commission concerns that the IASB is

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