The AICPA has now responded to the FASB’s Invitation to Comment on the need for valuation standards, bringing the total comments up to twelve, or more than twice the number from just last week as the April 15th deadline approaches (see BVWire #54-4). The gist of the AICPA’s position: “We believe that measurements of fair value in accordance with GAAP will improve if the financial reporting community receives (1) authoritative conceptual valuation guidance from FASB and (2) non-authoritative detailed implementation guidance from the marketplace.”  To read all comments, click here.