'Fair Value' Has Firms on Edge

September 2008
Securities Industry News;9/8/2008, Vol. 20 Issue 31, p6
Trade Publication
The article raises concerns regarding the implementation of Financial Accounting Standards 157 in the U.S. which governs fair-value accounting. Several limitations of fair-value accounting were cited by Standard & Poor in a research report released in May 2008. According to Tanaia Lynn, senior manager at Deloitte & Touche, the new rule will also introduce administrative burdens for buy- and sell-side firms. Maury Cartin, partner in Marcum & Kliegman, tells the problem brought by the new rule to funds of hedge funds.


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