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:
“It is my duty to prevent, through the independence of Cuba, the U.S.A. from spreading over the West Indies and falling with added weight upon other lands of Our America. All I have done up to now and shall do hereafter is to that end.... I know the Monster, because I have lived in its lair—and my weapon is only the slingshot of David.”
—José Martí (1853–1895)
“Our treatment of both older people and children reflects the value we place on independence and autonomy. We do our best to make our children independent from birth. We leave them all alone in rooms with the lights out and tell them, “Go to sleep by yourselves.” And the old people we respect most are the ones who will fight for their independence, who would sooner starve to death than ask for help.”
—Margaret Mead (1901–1978)
“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)