You have extra time to comment on two important exposure drafts that relate to the ongoing fair value quality initiative (FVQI) designed to improve financial reporting valuations for U.S. publicly traded companies. The ASA, AICPA, and RICS have spearheaded the initiative that includes the development of a new credential for valuation professionals. The credentialing process will be subject to ongoing quality oversight and compliance with a “mandatory performance framework,” which is the subject of the new exposure drafts. The original deadline for comments was June 24.
New deadline is August 24: The two exposure drafts are: Proposed Mandatory Performance Framework for the Fair Value Quality Initiative and Proposed Application of the Mandatory Performance Framework for the Fair Value Quality Initiative. Written comments should be sent either to the AICPA, ASA, or RICS. For links to the exposure drafts and contacts for comments, see the BVWire.