dcsimg

SEC Won't Recommend Suspending FAS 157

Lora Bentley

When Congress approved the $700 billion bailout bill earlier this year, it gave the Securities and Exchange Commission leeway to suspend Financial Accounting Standard 157, which details how fair value must be measured. Monday, SEC Chairman Christopher Cox announced the agency would not recommend suspension of FAS 157.

 

According to CFO.com, Cox said:

Accounting standards aren't just another financial rudder to be pulled when the economic ship drifts in the wrong direction. Instead they are the rivets in the hull, and you risk the integrity of the entire economy by removing them.

Cox's remarks at an American Institute of Certified Public Accountants also concentrated on the continuing need for transparency in accounting standards, as well as the need to make sure that accounting standards stay current.


Subscribe to our Newsletters

Sign up now and get the best business technology insights direct to your inbox.


 

By submitting your information, you agree that itbusinessedge.com may send you ITBbusinessEdge offers via email, phone and text message, as well as email offers about other products and services that ITBbusinessEdge believes may be of interest to you. ITBbusinessEdge will process your information in accordance with the Quinstreet Privacy Policy.




Add Comment      Leave a comment on this blog post

Post a comment

 

 

 

 


(Maximum characters: 1200). You have 1200 characters left.

 

null
null

 

Subscribe to our Newsletters

Sign up now and get the best business technology insights direct to your inbox.


 

By submitting your information, you agree that itbusinessedge.com may send you ITBbusinessEdge offers via email, phone and text message, as well as email offers about other products and services that ITBbusinessEdge believes may be of interest to you. ITBbusinessEdge will process your information in accordance with the Quinstreet Privacy Policy.

Subscribe to our Newsletters

Sign up now and get the best business technology insights direct to your inbox.


 

By submitting your information, you agree that itbusinessedge.com may send you ITBbusinessEdge offers via email, phone and text message, as well as email offers about other products and services that ITBbusinessEdge believes may be of interest to you. ITBbusinessEdge will process your information in accordance with the Quinstreet Privacy Policy.


×
We have made updates to our Privacy Policy to reflect the implementation of the General Data Protection Regulation.