A Feb. 6 news brief on page 4 understated the ability of the Securities and Exchange Commission to block Financial Accounting Standards Board rules. Though the SEC lacks formal veto power, it can effectively halt FASB rules by declaring that they do not apply to publicly traded companies.
Save $400 off your subscription. Special offer ends April 30, 2017.
No credit card required. Complete access to articles, breaking news and industry data.
Have an account? Sign In