A prominent US accounting body has called for a 'permanent, independent funding mechanism' for the International Accounting Standards Committee Foundation. Speaking at a roundtable of global accounting leaders, the president of the American Institute of Certified Public Accountants, Barry Melancon, said it was 'imperative' that the IASC Foundation, the governing body of the International Accounting Standards Board, found a funding solution. He said: 'A permanent funding solution would ensure that the IASB has appropriate resources to carry out its mission and would lead to worldwide confidence in the IASB's role as an independent accounting standard-setter.' The US Securities and Exchange Commission is considering whether to require US publicly traded corporations to use International Financial Reporting Standards for financial reports in US markets by 2014. The IASCF has proposed changes to its constitution that seek to establish a sustainable funding system for the board to help insulate standard setters from short-term political pressures. Melancon added: 'We strongly support the eventual use of a single set of high-quality, global accounting standards by public companies in the preparation of transparent and comparable financial reports throughout the world, and thus continue to strongly support the objectives of the IASCF and the IASB.'