Close To 100 Comment On FASB FV Proposal, Up For Vote Today; SEC Seeks Comment on MTM
By Edith Orenstein, FEI Financial Reporting Blog - FASB has received close to 100 comment letters (91 posted as of 9:00 pm Oct. 9) on its proposed guidance for Determining the Fair Value of a Financial Asset in a Market That is Not Active, released last week in the form of a Proposed FASB Staff Position (FSP), Proposed FSP FAS 157-d. The number of comment letters is sure to inch closer to 100 since FASB is still in the process of posting comment letters, including the letter filed by FEI’s Committee on Corporate Reporting (CCR) (see FEI CCR letter). Separately, the SEC posted a Request for Comment yesterday relating to its Congressionally mandated study of fair value ('mark-to-market' or MTM) accounting. Read more here.