According to The Conference Board, its advisory panel
will examine executive compensation and auditing standards,
a Reuters news report said.
Among those set to serve on the board are:
- former Federal Reserve Chairman Paul Volcker
- Arthur Levitt, former Securities and Exchange Commission chairman
- John Biggs, the president of TIAA-CREF
Earlier this month, the New York Stock Exchange (NYSE) unveiled its proposals to restore credibility to financial markets rocked by a series of accounting scandals in the last few months. The NYSE proposed requiring shareholder approval for executive share and option grants and that a majority of corporate board members be independent.
Stocks have slumped in the last few months, battered by a loss of faith in corporate financial statements after Enron collapsed amid a heap of debt and murky accounting.