EU spokesman Oliver Drewes said EU funding for the International Accounting Standards Committee Foundation (IASCF), the Public Interest Oversight Body (PIOB), and the European Financial Reporting Advisory Group (EFRAG), would help keep them clear of conflicts of interest.

"We think that it is important that there is independent financing of these type of organizations so that they don't rely on unclear funds or funds which are maybe given by people involved in their type of decision-making," he told reporters.

EU governments and the European Parliament will need to approve the new funding.

Two of them operate globally: the IASCF - which would get euro15 million - sets the worldwide IFRS accountancy standard used widely in Europe and the PIOB - in line for euro1.2 million - oversees global accountancy auditing and ethics standards.

The EFRAG advises the European Commission on using the IFRS rules in Europe. It may get euro12 million.

The money would be part of a euro36.2 million ($46.3 million) three-year package that would also help train staff and manage IT projects at the three major public sector groups of financial supervisors: the Committee of European Securities Regulators, the Committee of European Banking Supervisors and the Committee of European Insurance and Occupational Pensions Supervisors.

Those three draw on experts from each of the EU's 27 nations.

Drewes said they would likely see a stronger role in financial oversight under new rules being discussed on oversight of banking and credit rating agencies.

The European Commission wants CESR to supervise rating agencies - such as the U.S.-based Standard & Poor's and Moody's Corp. - that play a key role in financial markets by judging the risk of a borrower defaulting on a loan.