His reaction follows yesterday's landmark agreement between IASC members to back new proposals that will form the basis for the establishment of a single global standard-setter which have incorporated major concessions to the US Securities and Exchange Commission.
He said that the committee had taken an 'important step' by supporting an approach 'that focuses on the public interest, especially the interests of investors in capital markets, as the linchpin for its restructuring.'
He recognised the hard work of all sides in seeking views about the future in order to create a structure which could be the 'international focal point for the development and convergence of accounting standards to meet theneeds of global capital markets.'
Turner backed the proposals as a move towards allowing geographic representativeness while supporting the need for technical competence and independence.He said that it would produce a board with the best combination of technical skills and relevant experience.
Although he added that final acceptance of the plans was still reliant on the selection of good trustees and board members, he remained optimistic for the future.'I believe this structure represents the best opportunity to realizethat goal.I am enthusiastic about this approach and look forward to working to support adoption and implementation of this revised structure,' he said.To read yesterday's exclusive story on the breakthrough agreement between European and US standard-setters click here
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago