Accepting the reality that fair value is in growing demand in financial reporting, policy makers are now turning their attention to how to make it work.
In a span of a few short weeks, accounting rulemakers formed a new body to help figure out where more guidance is needed; the prevailing accounting professional group published the first in what may become a series of new standards focused solely on valuation; and audit regulators debated how to get the auditing profession up to speed.
