Thomas Linsmeier want to see modifications to FAS 157 following widespread investor concerns
Fair value accounting rules introduced in the US require a 'post mortem' according to one member of the standards setting board.
Financial Accounting Standards Board member Thomas Linsmeier said that fair value accounting introduced in FAS 157 last November may need modification following widespread concerns from investors over the rules' effects that companies are not disclosing enough about complex securities, reported Financial Week.
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