The International Financial Reporting Standard Foundation (formerly the International Accounting Standards Committee Foundation) is the governing body of the International Accounting Standards Board that sets accounting standards for much of the world.
One proposal, from Senators Jon Corzine and Christopher Dodd, is to look into creating a new oversight body akin to the quasi-governmental Public Company Accounting Oversight Board.
The Association to Advance Collegiate Schools of Business, a 97-year-old nonprofit body that issues a seal of approval to business and accounting programs world-wide, says it needs the flexibility to support a growing group of programs from around the world.