FCAG members see threats to international accounting standards

At least three members of the Financial Crisis Advisory Group (FCAG), formed jointly by FASB and the IASB last year to advise the two boards on accounting matters related to the credit crisis, have warned that continued political and other external pressure on FASB - and the IASB in particular - could result in tragedy. (Read the article Pressure on FASB, IASB Could Result in Tragedy, FCAG Members Warn on AccountingWeb.com.)