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:
“Independence I have long considered as the grand blessing of life, the basis of every virtue; and independence I will ever secure by contracting my wants, though I were to live on a barren heath.”
—Mary Wollstonecraft (17591797)
“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 (16891755)
“In England the judges should have independence to protect the people against the crown. Here the judges should not be independent of the people, but be appointed for not more than seven years. The people would always re-elect the good judges.”
—Andrew Jackson (17671845)