Sox First

The rule maker for accounting standards is coming under pressure again. Once more the Europeans are putting the heat on the International Accounting Standards Board to change the rules and let the banks hide their losses. The trouble is the IASB has already compromised its independence and could very well cave in again. If that happens, accounting will be in even more trouble than it is now. I look at that issue in my column here.

• Auditors, independence and distance
• PCAOB and the new independence rule
• European Union crack up
• Auditors and independence
• G20 undermines accounting independence