FASB under fire over fair value judgments (Dealscape

An investor advisory group has accused the Financial Accounting Standards Board of losing its independence after it succumbed to political pressure over fair value or "mark-to-market" accounting changes.

In a sometimes heated and harsh letter, the Investors Technical Advisory Committee said the accounting standard setter should have fought off pressure from special interest groups, politicians and lobbyists who sought more flexible treatment for banks with toxic assets on their books.

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NOT A SUBSCRIBER? FASB under fire over fair value judgments Posted on June 24, 2009 12:50 PM An investor advisory group has accused the Financial Accounting Standards Board of losing its independence after it succumbed to political pressure over fair value or "mark-to-market" accounting changes. In a sometimes heated and harsh letter, the Investors Technical Advisory Committee said the accounting standard setter should have fought off pressure from special interest groups, politicians and lobbyists who sought more flexible treatment for banks with toxic assets on their books. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 405 articles related to the Financial Accounting Standards Board 188 in-depth reports of M&A deals in Regulation 18 articles related to the Financial Accounting Foundation 15 company pages related to Accounting 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Idearc Inc. Deutsche Bank Amusement parks Deb Shops Windstream Corp. Concho Resources Hanna Andersson Tween Brands Edward Bastian		EXISTING USERS Username Password Forget your password? Missing a product?

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