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Investor Groups Stump for FASB Independence

Tammy Whitehouse | November 4, 2009

Investor advocates are getting nervous about a lot of things being discussed on Capitol Hill these days, including ideas that could potentially put accounting rules under more political authority.

The Center for Audit Quality, the Council of Institutional Investors, and an arm of the U.S. Chamber of Commerce sent a letter to the leadership of the House Financial Services Committee to remind them that the Financial Accounting Standards Board is overseen by the Securities and Exchange Commission because it’s supposed to be independent of the political process. Accounting rules are supposed to be written with investors in mind, and the SEC is charged with keeping...

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