The recent revelation that the nation's top accounting standards organization was pressured to relax audit rules by a bailed-out Wall Street firm and members of Congress has CPAs crying foul and urging their industry's leaders to stop caving in to outside pressures.

An alternative to the maxim "all politics is local" for the current economic era could be "all accounting is politics," as was evidenced by Financial Accounting Standards Board chairman, Robert Herz who said the rules-making body he leads was pressured by Congress to ease up its rules for valuing troubled assets...

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