Big News

Posted by accountingweb on Sep 8 2008 748 printer friendly

By Edith Orenstein, FEI Financial Reporting Blog - On Sunday, Sept. 7, 2008 U.S. Treasury Secretary Henry M. Paulson and Federal Housing Finance Agency (FHFA) Director James Lockhart announced that FHFA has placed the two Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, into a conservatorship. This and three related actions aimed at stabilizing the two GSEs “are the result of detailed and thorough collaboration between FHFA, the U.S. Treasury, and the Federal Reserve,” said Paulson.

In other news, the Big 4 audit firms are among the top 5 companies for new hires, according to the cover story in this week’s issue of Business Week, “The Best Places to Launch a Career” by Lindsey Gerdes. See their list of “Fifty Employers with the Right Stuff.” Also in the current issue of Business Week is an article on IFRS by David Henry.

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FEI Financial Reporting Blog provides highlights from SEC, PCAOB, FASB, IASB, and other regulatory news, including reporting under Sarbanes-Oxley Sect 404. It is written by Edith Orenstein, Director of Technical Policy Analysis at FEI

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