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AccountingWEB US blogs

FEI

A blog by Edith Orenstein

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.

Madoff Sentenced to 150 Years

06/29/2009 - 14:47 - 580 reads

Earlier today, self-admitted Ponzi schemer Bernard L. Madoff was sentenced by U.S. District Judge Denny Chin to a 150-year sentence, the maximum for the charges he was convicted on. As reported in TheDeal.com's Madoff Gets the Max, by Donna Block:

"Ira Sorkin, Madoff's defense attorney, argued for a 12-year sentence, but Madoff's victims urged Chin to impose the stiffest of penalties.

Say, Say, Say, Say-on-Pay

06/29/2009 - 14:28 - 453 reads

I had shared with a fellow blogger (Broc Romanek of TheCorporateCounsel.net Blog) last month that I had a certain video in mind to use in a post on Say-on-Pay; I had planned to use it when proposed legislation or regulation was a little farther along, but in light of recent events – the sudden passing of Michael Jackson at age 50 last week - I have decided to use the video (with apologies to Jim Peterson, author of the Read more

FASB Chairman On Principles, Politics

06/29/2009 - 14:20 - 458 reads

In a speech at the National Press Club on June 26, 2009, Financial Accounting Standards Board Chairman Robert Herz outlined 4 major principles that he believes should guide financial regulatory reform.

MdBizExpo Panels on Reg Reform, XBRL

06/29/2009 - 14:05 - 445 reads

We just posted two summaries of panels I observed at the Maryland Association of CPAs (MACPA) Maryland Business Expo: Panel Addresses Regulatory Reform: The New World Order, and XBRL Panel Says Don't Put Off Planning, Take Responsibility.

FASB and Due Process

06/25/2009 - 13:42 - 584 reads

Steve Burkholder of BNA recently reported that the Investors Technical Advisory Committee (ITAC), an advisory group to the FASB, sent a comment letter to FASB's parent organization, the Financial Accounting Foundation, expressing “grave concerns” about a “substantial erosion in the independence of the accounting standard-setting process” and “a recent weakening of already inadequate accounting standards.”

In his article, Read more

Previous entries

FASB-Related Amendments (Perlmutter/Lucas; Garrett) Pass House Cmte.

11/20/09
Update On Congressional Consideration Re: FASB

11/11/09
FASB Oversight Subject of Congressional Interest

11/4/09
COSO Releases Thought Paper on ERM

11/4/09
Sarbanes-Oxley Exemption Passes Congressional Committee

11/4/09
FASB, IASB To 'Retriple' Efforts To Meet 2011 Convergence Deadline

10/30/09
IFRS: Results & Invitations

10/22/09
PCAOB Announces Ambitious Agenda

10/15/09
SEC Extends Sarbanes-Oxley 404b Deadline For Small Cos

10/2/09
PCAOB Issues Report On First Year Implementation of AS5

9/24/09
FASB-IASB Hold 3rd Roundtable On Financial Instruments

9/14/09
Obama to Wall Street: Return To Normalcy Cannot Lead to Complacency

9/14/09
Sarbanes-Oxley, Fair Value, and What Counts

9/11/09
Kotz, Khuzami, Walsh Testimony Posted For Senate Banking Committee Hearing re: Madoff

9/10/09
SEC Releases Full OIG Report on Madoff; Congressional Hearings Coming

9/4/09
SEC OIG Report on Madoff Affair: A Tale of Redemption

9/4/09
Predictions and Lessons Learned

9/4/09
IASB Updates G-20; FASB, IASB Seek Comment on Proposals

8/31/09
Bernanke Reappointed Chairman Of FRB; Kroeker Appointed Chief Accountant of SEC

8/25/09
FASB Stakes A Claim On Litigation Contingencies

8/24/09

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