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IASB: Fair Value View Won’t Cause Incomparability Abroad

Tammy Whitehouse | October 7, 2008

In response to the U.S. banking bailout and related accounting guidance on fair-value measurement, the International Accounting Standards Board is answering worries abroad about whether U.S. and foreign banks will be operating on a level playing field.

European leaders called on IASB to assure international accounting rules are consistent with U.S. Generally Accepted Accounting Principles with respect to how financial institutions in particular will measure the value of their troubled financial instruments. IASB published a statement assuring the joint guidance issued by the Securities and Exchange Commission and the Financial Accounting Standards Board on Financial Statement No. 157:...

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