Recognising India as one of the major emerging economic powers of the world, the International Accounting Standard Board (IASB) President David Tweedie has said India should have representation on the 14-member board that is at present dominated by Americans.
"There is a strong need that the representation of the US and the European countries should come down on the Board and that of the Asian and the South African countries should increase," he said at a FICCI interactive session in New Delhi.
He, however, added that it is his personal feeling and not of the board as a whole.
"We need an Indian voice. Board member would be retiring in the next 4-5 years," he said, adding India is one of the most important countries of Asia and its membership on the board would help in maintaining the 'balance' going a long way in ensuring equal representation on the board.
At present, the 14-member board has five members from the US, two from France and one each from Germany, Sweden, UK, South Africa, Australia and Japan.