PCAOB to move faster on fair value standard

BVWireIssue #149-3
February 18, 2015

The word “speedy” does not traditionally apply to the government regulatory or standard-setting process. Be that as it may, after undergoing criticism that it is not moving faster on releasing new standards, the Public Company Accounting Oversight Board (PCAOB) has updated its standard-setting agenda.

The agenda notes that the PCAOB staff anticipates recommending that the board propose a standard and related amendments on auditing accounting estimates, including fair value measurements and related disclosures, for public comment in the fourth quarter of 2015. Last August, the staff had released a public consultation paper seeking comments on the matter. That paper and the comments are available here.

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