Significant changes on the boards of the American accounting rule settlers. But are they for the best? And might they make things worse?

As Reuters reports, the Financial Accounting Standards Board (FASB) will have two fewer members and the power of its chairman will be increased. The idea is to make it more nimble and less cumbersome.

But the corporate governance watchdogs at RiskMetrics have other ideas. In their case, they argue that it robs the board of expertise and diversity. And giving the chairman more power is asking for trouble.