SEC mulls financial reporting
changes.
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The SEC's Advisory Committee on Improvements to Financial
Reporting is soliciting public comments on a discussion paper that
outlines various proposed changes for financial reporting.
The committee was established in July with the goal of providing
recommendations for how to reduce complexity in the U.S. financial
reporting system. To that end, the committee is looking into issues such
as the use of principles vs. rules-based standards; processes for
providing timely guidance on implementation issues; and whether or not
the current financial reporting standards result in useful information
for investors, among others.
[ILLUSTRATION OMITTED]
Download a copy of the discussion paper and comment submission
instructions at www.sec.gov/rules/other/2007/33-8836.pdf.
COPYRIGHT 2007 California Society of Certified
Public Accountants Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
Copyright 2007, Gale Group. All rights
reserved. Gale Group is a Thomson Corporation Company.
NOTE: All illustrations and photos have been removed from this article.
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