The Early Years of the Financial Accounting Foundation and the Financial Accounting Standards Board, 1972 to 1980: The ‘Special Relationship’ with the AICPA
22 Pages Posted: 14 May 2018
Date Written: April 28, 2018
In this paper, the author documents the American Institute of Certified Public Accountants’ “special relationship” with the Financial Accounting Foundation and the Financial Accounting Standards Board, such that questions could be raised about whether these latter two bodies were truly independent of the Institute and of the practicing profession during the years from 1972 to 1980.
Keywords: Independence, Standard Setting, AICPA, FAF, FASB
JEL Classification: M41
Suggested Citation: Suggested Citation