Rule makers committed to "lock-step" on fair-value decisions

11/18/2008 | Reuters

IASB Chairman Sir David Tweedie has said his rule-making body and the FASB must move together "in lock-step" on fair-value rules to protect the rule-making process from political interference that could discredit accounting generally. Tweedie said that whenever there is a difference between the language used by IASB and FASB "we get played off" against each other. He said recent events have shown "we have no protection from a real determined political assault."

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