In other international news, as noted in an article by Joe Kirwin in today's BNA's Daily Report for Executives, fair value accounting as may relate to volatility in credit markets was a subject of discussion at informal meetings of ECOFIN (the Economic and Financial Affairs Council of the European Union) earlier this month. Additionally, EU Internal Markets Commissioner Charlie McCreevy testified before a committee of the European Parliament on April 1 that fair value accounting issues and other accounting issues (consolidation accounting and risk disclosure) needed to be addressed regarding the recent market turmoil.
Separately, the SEC recently released updated interpretations of its Form 8-K rules, updating and combining some interps previously found in various sources issued by the SEC.
Read more about all of the above developments here.
Posted by Edith Orenstein, FEI Financial Reporting Blog, April 8, 2008.