By Edith Orenstein, FEI Financial Reporting Blog -
Earlier today (Aug. 8, 2008) a number of Financial Executives International’s (FEI’s) technical committees filed comment letters with the Financial Accounting Standards Board, voicing concern on FASB's proposal to change disclosures of contingencies, including litigation contingencies, set forth in FASB’s Exposure Draft, Disclosure of Certain Loss Contingencies – an amendment of FASB Statements No. 5 and 141(R).
As noted in a cover letter signed by Christine DiFabio, Vice President, Technical Activities at FEI, the following letters were included in FEI’s comment letters on FAS 5:
- A joint letter of FEI’s Committee on Corporate Reporting (CCR) and Committee on Government Business (CGB); and
- A letter from FEI’s Committee on Private Companies (CPC
Read more here.