Friday, October 3, 2008

The FASB responds to Congressional Pressure

Robert Denham the Chairman of the Financial Accounting Foundation has written a letter to Congress in response to calls for suspension of FASB Statement 157 dealing with "Fair Values"

The letter makes the case for independent setting of financial reporting standards.

Watch the FASB site for more fair value guidance - coming very soon!
UPDATE
The FASB has issued 157-d on fair values for comment see the FEI blog report.

3 comments:

The IFRS Exorcist © said...

Some excellent links to information on the Fair Values are in the FEI Financail Reporting blog in the most recent post and the previous post.
http://www2.financialexecutives.org/blog/blog.cfm?blog_id=1#20081003011956

Edith said...

Darla, thanks for linking to our blog, you have a very informative blog and it is interesting to read your viewpoints!

The IFRS Exorcist © said...

Thanks for the support and your kind comments on the blog Edith. Keep up the good work. I don't know how you keep it up.
Readers are directed to the blog link to the FEI blog on this page.
It is well worth subscribing to that blog - a wealth of information and analysis.