Friday, June 20, 2008
The SEC announced that it will host a roundtable on July 9, 2008, to facilitate an open discussion of the benefits and potential challenges associated with existing fair value accounting and auditing standards.
The roundtable will be organized as two panels. The first panel will discuss fair value accounting issues from the perspective of larger financial institutions and the needs of their investors. The second panel will discuss the issues from the perspective of all public companies, including small public companies, and the needs of their investors. The panel discussions will focus on:
the usefulness of fair value accounting to investors
potential market behavior effects from fair value accounting
practical experience and potential challenges in applying fair value accounting standards
aspects of the current standards, if any, that can be improved
experience with auditors providing assurance regarding fair value accounting
A final agenda including a list of participants and moderators will be announced at a future date. The Commission welcomes feedback regarding any of the topics to be addressed at the roundtable. The information that is submitted will become part of the public record of the roundtable.