Independence
In June 2009, FASB was criticized by an advisory panel of investors after making changes on mark-to-market accounting in response to political pressure. Lobbyists had obtained its permission for banks to apply a special accounting treatment for toxic assets.
Read more about this topic: Financial Accounting Standards Board
Famous quotes containing the word independence:
“We must have constantly present in our minds the difference between independence and liberty. Liberty is a right of doing whatever the laws permit, and if a citizen could do what they forbid he would no longer be possessed of liberty.”
—Charles Louis de Secondat Montesquieu (1689–1755)
“A tragic irony of life is that we so often achieve success or financial independence after the chief reason for which we sought it has passed away.”
—Ellen Glasgow (1873–1945)
“The independence of all political and other bother is a happiness.”
—Rutherford Birchard Hayes (1822–1893)