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SEC Report Not Last Word On Fair Value Accounting

Law360 (January 15, 2009, 12:00 AM EST) -- The SEC’s Dec. 30, 2008, report on mark-to-market accounting undoubtedly disappointed fair value opponents and reassured its defenders.

The Commission declined to suspend the application of FAS 157, concluding that most investors believe fair value accounting increases financial reporting transparency.

To those who blame fair value accounting for our current financial crisis, this decision probably dashes the hope for a quick solution. However, the report is far from the last word on the many fair value accounting issues our economic difficulties have brought to light....
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