The pardons will also be granted only after what officials say is a vetting process — Mr. Cuomo called it «
a prudent exercise of discretion» — and will not be granted to anyone convicted of a sex crime or currently in arrears on their taxes.
Witnesses repeatedly criticized IFRS for stripping auditors
of their ability to «
exercise prudent judgment» — which is another way
of saying it gives management wide
discretion when reporting financials.