This country's system of setting accounting rules reminds me of the story about a man who was pulled over for speeding in a small town. Convinced he had not been driving too fast, the man asked the sheriff if he could appeal the ticket. Looking over his sunglasses, the sheriff responded, "You're in luck: I'm also the county judge. Appeal denied."

The extrajudicial procedures of the Financial Accounting Standards Board aren't much different.

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