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 (1759–1797)
“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)
“The independence of all political and other bother is a happiness.”
—Rutherford Birchard Hayes (1822–1893)