The comments by Michael Mard as presented in this week’s BVWire were a partial and incomplete summary of the relationship between the BV profession and the Financial Accounting Standards Board (FASB). Mard has offered to provide further context and explanation for our readers. Accordingly, next week’s issue will provide a special report on the work that Mard and other members of the Valuation Resource Group have done—with particular focus on the Board's current relations with its valuation advisors. “The FASB has bent over backwards,” Mard says, to accommodate input from the appraisal community as well as the public company, auditing, and corporate financial fields. Look for Mard’s comments and more in the next BVWire.
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