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.

SEC Offers CFOs More MD&A Guidance on FAS 157

Tammy Whitehouse | September 19, 2008

The Securities and Exchange Commission has updated its guidance to preparers of financial statements about what they should plan to say in Management Discussion and Analysis regarding their measurement of fair value, especially given continuing market turmoil.

The SEC Division of Corporation Finance published a sample of the letter on its Website for the benefit of any who may not have received the letter personally. The letter advises companies to think carefully about whether they are disclosing enough regarding their use of market information and judgments in valuing assets and liabilities under Financial Accounting Statement No. 157: Fair Value Measurements, especially for instruments that are thinly traded in the current stormy market environment.

The letter pays particular attention to fair-value measurements involving derivatives and...

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.