The warning follows round table meetings with banks and firms to discuss audits as part of its monitoring of the valuation techniques being used
Accountancy Age, 19 Mar 2008
The Financial Services Authority has warned that banks' 'fair value' of assets could differ from figures arrived for accounting and regulatory purposes.
The conclusions are a result of round table meetings with banks and firms to discuss audits as part of its monitoring of the valuation techniques being used.
The rules remain un-changed, however the FSA has warned banks to be extra careful in their valuations, the FT reported.
Further reading:
Deloitte warned of Bear Stearns problems
As Wimbledon reaches a heady climax, the FD of All...
Relive how the controversial mega-merger of Price Waterhouse and Coopers...
© Incisive Media Ltd. 2008 Incisive Media Limited, Haymarket House, 28-29 Haymarket, London SW1Y 4RX, is a company registered in the United Kingdom with company registration number 04038503
Comments