Thursday, October 16, 2008

FASB, IASB Form Jt. Adv. Group On Credit Crisis; Release DP On Fin. Stmt Pres.

Earlier today, FASB and the IASB jointly announced they are forming an advisory group “comprising regulators, preparers, auditors, investors and other users of financial statements” to review reporting issues related to the credit crisis.

Separately, FASB and the IASB released today their joint Discussion Paper on the Financial Statement Presentation Project. The comment deadline is April 14, 2009. Further information is in their press release , the Discussion Paper, and in their “Snapshot,” a 6 page summary of highlights from the Discussion Paper.

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