Groups Press Gensler to Raise Investor Interests in Accounting

April 26, 2021, 7:37 PM

Two groups representing investor interests want Gary Gensler, new chairman of the Securities and Exchange Commission, to make sure accounting rules reflect investors’ needs.

The chairman’s pick for SEC chief accountant needs to agree that investor perspective should take priority in the development of new financial accounting rules, the Council of Institutional Investors wrote to Gensler.

The organization’s recommendation went to Gensler on the heels of a letter from another group, several prominent investor advocates, criticizing the U.S. accounting standard-setter for letting auditors and corporate interests dominate rulemaking at the expense of investors.

The criticism of the Financial Accounting Standards ...

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