ABI “dismayed” at governments’ influence over IASB

The Association of British Insurers (ABI) said it was left “dismayed” by the level of government interference – from Europe and the US – in the work of accounting standard setters following the financial crisis. In its report, “Restoring Market Confidence”, the ABI said it is of “paramount importance that accounting standard setters can operate independently of government influence”. It added that: “We have been dismayed by the way both European and US political authorities have sought to influence accounting standards.”