Letter to FASB chairman - Bob Herz: FAS #157 Deferral Letter
Monday, November 17, 2008
The Financial Reporting Committee (FRC) is writing to provide its views on current developments with respect to application of FAS 157. The FRC is the financial reporting technical committee of the Institute of Management Accountants. The FRC is comprised of representatives from preparers of financial statements of the largest companies in the world, the largest accounting firms in the world, valuation experts, accounting consultants as well as academics. The FRC reviews and responds to research studies, statements, pronouncements, pending legislation, proposals, and other documents issued by domestic and international agencies and organizations.