What is the equivalent of the American agency that appoints members of the public company accounting oversight board in the country that declined to sign the Social charter?
Financial Services Authority
Title: European Union law
Passage: The Social Charter was subsequently adopted in 1989 by 11 of the then 12 member states. The UK refused to sign the Social Charter and was exempt from the legislation covering Social Charter issues unless it agreed to be bound by the legislation. The UK subsequently was the only member state to veto the Social Charter being included as the "Social Chapter" of the 1992 Maastricht Treaty - instead, an Agreement on Social Policy was added as a protocol. Again, the UK was exempt from legislation arising from the protocol, unless it agreed to be bound by it. The protocol was to become known as "Social Chapter", despite not actually being a chapter of the Maastricht Treaty. To achieve aims of the Agreement on Social Policy the European Union was to "support and complement" the policies of member states. The aims of the Agreement on Social Policy are:
Title: Rosaire Gendron
Passage: Rosaire Gendron (19 October 1920 – 5 July 1986) was a Liberal party member of the House of Commons of Canada. Born in Saint-François-Xavier, Quebec, he was a Chartered Accountant by career.
Title: Securities commission
Passage: There is no common name for securities commission or financial regulatory agency in each country. Naming has become more complicated as some governments have consolidated or merged organisations and given them a wider remit. They sometimes contain the term securities and commission. Such as the Securities and Exchange Commission of the US or Securities and Futures Commission (Hong Kong). A number also have names based on Financial Authority, such as the Financial Services Authority of the UK or Financial Supervisory Authority (Sweden) or variations such as the Financial Services Agency (Japan).
Title: Audit in India
Passage: Statutory audit refers to the audit based on the laws applicable on the entity for the time being in force. It is governed by the Indian Accounting Standards (Ind - AS) issued by Institute of Chartered Accountants of India from time to time. A Chartered accountant holding a certificate of practice in India is qualified to be a statutory auditor of an entity. It is mandatory for a company in India to get the Statutory Audit of its financial statements done according to the provisions of Companies Act 2013.
Title: Public Company Accounting Oversight Board
Passage: The PCAOB has five Board members, including a Chairman, each of whom is appointed by the SEC, after consultation with the Chairman of the Board of Governors of the Federal Reserve System and the Secretary of the Treasury. Two Board members must be Certified Public Accountants. If the PCAOB Chairman is one of them, he or she may not have been a practicing CPA for at least five years prior to being appointed to the board. Each member serves full - time, for staggered five - year terms. The Board's budget, approved by the SEC each year, is funded by fees paid by the companies and broker - dealers who rely on the audit firms overseen by the Board. The organization has a staff of about 800 and offices in 11 states in addition to its headquarters in Washington.
Title: Rajya Sabha
Passage: The Rajya Sabha or Council of States is the upper house of the Parliament of India. Membership of Rajya Sabha is limited by the Constitution to a maximum of 250 members, and current laws have provision for 245 members. Most of the members of the House are indirectly elected by state and territorial legislatures using single transferable votes, while the President can appoint 12 members for their contributions to art, literature, science, and social services. Members sit for staggered six - year terms, with one third of the members retiring every two years.
Title: Sustainability Accounting Standards Board
Passage: The Sustainability Accounting Standards Board was founded in 2011 to develop and disseminate sustainability accounting standards. While the FASB has for the past forty years developed the accounting principles currently used in financial reporting in the United States, other social and environmental measures are now understood to be of relevance. The SASB aims to integrate its standards into the Form 10-K which must be filed by public companies with the U.S. Securities and Exchange Commission; in this sense it differs from initiatives such as the GRI, by working within the current system of financial regulation. The general principle is, in Peter Drucker's phrase, "what gets measured gets managed".
Title: Indian Accounting Standards
Passage: Indian Accounting Standard (abbreviated as Ind - AS) is the Accounting standard adopted by companies in India and issued under the supervision and control of Accounting Standards Board (ASB), which was constituted as a body in the year 1977. ASB is a committee under Institute of Chartered Accountants of India (ICAI) which consists of representatives from government department, academicians, other professional bodies viz. ICAI, representatives from ASSOCHAM, CII, FICCI, etc.
Title: Auditor's report
Passage: The auditor's report on the financial statements typically provides very limited details on the procedures and findings of the audit. In contrast, auditors provide much more detail to the board of directors or to the audit committee of the board. Beginning in 2002, many countries have tasked the audit committee with primary responsibility over the audit. For example, in the United States, section 204 of the Sarbanes - Oxley Act passed in 2002 required auditors to communicate certain information to audit committees, which were required to be entirely independent, and also made the audit committee responsible for the auditor's hiring. In August 2012, the U.S. Public Company Accounting Oversight Board finalized Auditing Standard No. 16, which requires additional communications to the audit committee.
European Union law Public Company Accounting Oversight Board Securities commission