Question: What is the equivalent of the body that appoints the members of the public company accounting oversight board in the country that declined to sign the social charter?

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 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. The organization has a staff of about 800 and offices in 11 states in addition to its headquarters in Washington. <SEP> 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". <SEP> There is no common name for securities commission or financial regulatory agency in each country. 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). 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). <SEP> the federal reserve system is composed of several layers. it is governed by the presidentially appointed board of governors or federal reserve board (frb). twelve regional federal reserve banks, located in cities throughout the nation, oversee the privately owned u.s. member banks. nationally chartered commercial banks are required to hold stock in the federal reserve bank of their region, which entitles them to elect some of their board members. the federal open market committee (fomc) sets monetary policy; it consists of all seven members of the board of governors and the twelve regional bank presidents, though only five bank presidents vote at any given time: the president of the new york fed and four others who rotate through one - year terms. there are also various advisory councils. thus, the federal reserve system has both public and private components. the structure is considered unique among central banks. it is also unusual in that the united states department of the treasury, an entity outside of the central bank, prints the currency used. <SEP> The Social Charter was subsequently adopted in 1989 by 11 of the then 12 member states. 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. 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. 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: