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:
“In a famous Middletown study of Muncie, Indiana, in 1924, mothers were asked to rank the qualities they most desire in their children. At the top of the list were conformity and strict obedience. More than fifty years later, when the Middletown survey was replicated, mothers placed autonomy and independence first. The healthiest parenting probably promotes a balance of these qualities in children.”
—Richard Louv (20th century)
“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 (1767–1845)
“The subject of the novel is reality liberated from soul. The reader in complete independence presented with a structured process: let him evaluate it, not the author. The façade of the novel cannot be other than stone or steel, flashing electrically or dark, but silent.”
—Alfred Döblin (1878–1957)