No accounting for tastes


Accountants didn’t give loans to shaky borrowers during the credit boom, nor did they securitise those assets and pick up six-figure bonuses as a result, but standard-setters such as the Financial Accounting Standards Board (FASB) still caught a lot of flak for the crisis.

For the most part, criticism revolves around the enthusiasm with which standard-setters embraced fair-value accounting in the years preceding the credit crunch. With markets in collateralised debt obligations (CDOs) of asset-b

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: