Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Deloitte: FAS 157/159 Adoption May Show Swing to Level 3

Tammy Whitehouse | September 4, 2008

A Deloitte analysis of fair value reporting for 50 public companies concluded more assets are moving into the gray area of “level 3” valuations, where market pricing has little to no bearing on the values companies place on their financial assets and financial liabilities.

Deloitte studied the 10-Qs of 50 companies in banking, insurance, investment, energy, and other sectors to see what their numbers and disclosures looked like around adoption of Financial Accounting Statements No. 157 Fair Value Measurement and No. 159 Fair Value Option. Both became effective with the beginning of 2008 for calendar-year companies.

FAS 157 sets out a definition of fair value and prescribes a method by which it should be measured. It establishes three levels for...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.