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:
“Hail, Columbia! happy land!
Hail, ye heroes! heaven-born band!
Who fought and bled in Freedom’s cause,
Who fought and bled in Freedom’s cause,
And when the storm of war was gone,
Enjoyed the peace your valor won.
Let independence be our boast,
Ever mindful what it cost;”
—Joseph Hopkinson (1770–1842)
“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 Indian’s intercourse with Nature is at least such as admits of the greatest independence of each.”
—Henry David Thoreau (1817–1862)