US standard-setter to consider a delay to the implementation of FAS 157 today
Accountancy Age, 17 Oct 2007
The US standard-setter will today consider delaying the implementation of fair value.
The fair value standard, FAS 157, is due to come into effect on November 15. It provides guidance for companies on how to provide valuations - or the price an asset could be sold at in a current market transaction.
However, companies have voiced their disapproval of the date, saying they need more time to address issues with implementing the standard, Reuters.com reported.
Earlier this month the Financial Executives International asked the Financial Accounting Standards Board to delay the standard by a year.
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