RegulationAccounting StandardsFSA cautions banks on fair value

FSA cautions banks on fair value

The warning follows round table meetings with banks and firms to discuss audits as part of its monitoring of the valuation techniques being used

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

Pru rallies to defend fair value

PCAOB says don’t revise fair value

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