International Accounting Standards Panel Named.

• Position: Brief Article

The drive to set common international accounting standards is moving ahead with the naming of a 19-member board of trustees that will select the members of the International Accounting Standards Committee. The 14 people who will eventually be appointed to the IASC will replace the current body, dominated by accounting professionals.

Seven of the 19 new trustees come from the ranks of top corporate management or financial executives, among them Toshikatsu Fukuma, chief financial officer of Mitsui & Co., William Steere, CEO of Pfizer, Roy Andersen, CEO of the Liberty Life Group and Cornelius Herkstroter, former president of Royal Dutch Petroleum. The chairman of the trustee group is no less than Paul...