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IASC Trustee Volcker will testify on IAS to US Congress

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06 Jun 2001

Paul Volcker, the former US Federal Reserve Board chairman who currently chairs the Trustees of the IASC Foundation, will testify on Thursday before the US House of Representatives Subcommittee on Capital Markets.

The subcommittee is holding a hearing on Promotion of International Capital Flow through Accounting Standards. The subcommittee is concerned about lack of comparability of financial information disclosed in international capital markets. In announcing the hearing, the subcommittee chair, Congressman Richard Baker, said: "Without harmonization of accounting standards from country to country, investors face uncertainty when evaluating investment opportunities and companies face costly compliance when filing financial disclosures."

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