- Provided by  June 2008 - Posts
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6/30/08 -- SEC Proposed Updated Disclosure Rules for Energy Company Reserves in Release No. 33-8935. The Securities and Exchange Commission issued Release No. 33-8935, Modernization of the Oil and Gas Reporting Requirements, on June 26, 2008, a proposed...
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06/27/08 -- SEC Votes to Downgrade the Role of the Rating Agencies. The Securities and Exchange Commission, at a June 25, 2008, meeting, proposed sweeping changes to the agency?s rules on the use of credit ratings. The SEC said the changes were due in...
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6/26/08 -- SEC May Lessen Its Reliance Upon the Rating Agencies. A senior Securities and Exchange Commission official said the agency is considering alternatives to its long held practice of using credit ratings to assess the risk of securities issuers...
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6/25/08 -- Improving U.S. GAAP Is Still the FASB's Focus, Says Board Member. No date has been set for U.S. companies to drop generally accepted accounting principles in favor of the International Financial Reporting Standards, but the members of the...
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6/24/08 -- SEC Approved One-year Extension for Section 404(b) Attestations of Smaller Companies. On June 20, 2008, the Securities and Exchange Commission (SEC) approved a one-year extension of the compliance date for auditors of smaller public companies...
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06/23/08 - The FASB to Address Definition of a Liability in Discussion on Conceptual Framework Project. <p>At its June 25, 2008, weekly meeting, the Financial Accounting Standards Board (FASB) is scheduled to discuss the definition of a liability...
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06/20/08 - FASB Confirmed Preliminary Decisions On Other Comprehensive Income in Financial Statement Presentation Project. <p>The Financial Accounting Standards Board (FASB) confirmed many of the preliminary decisions it had made regarding how other...
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6/19/08 -- SEC Proposes Changes to Ratings Process for Structured Finance Transactions in Release No. 34-57697. The Securities and Exchange Commission (SEC) issued Release No. 34-57967, Proposed Rules for Nationally Recognized Statistical Rating Organizations...
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6/17/08 -- The FASB Rejects Bright Line Requirements for Investments in Transferred Financial Assets. The Financial Accounting Standards Board (FASB), at its June 11, 2008, weekly meeting, decided to remove a specified minimum third-party investment requirement...
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6/16/08 -- The FASB to Discuss Proposals on Earnings Per Share and Statement Presentation. At its June 18, 2008, weekly meeting, the Financial Accounting Standards Board (FASB) is to discuss the comment period and the effective date of a proposed statement...
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06/13/08 -- SEC Approves Major Reforms of Credit Rating Process. In an effort to eliminate the conflicts of interest that are believed to have contributed to the current crisis in the financial markets, the Securities and Exchange Commission (SEC) approved...
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06/12/08 -- SEC Proposes Use of XBRL for Mutual Fund Risk/Return Data in Release No. 33-8929. The Securities and Exchange Commission issued a proposal in Release No. 33-8929, Interactive Data For Mutual Fund Risk/Return Summary, on June 10, 2008. Comments...
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6/11/08 -- Why U.S. Companies Should Go Along with the Move to IFRS. Securities and Exchange Commission (SEC) officials have no intention of blindly following the rest of the world as other markets adopt global accounting rules. That said, they also feel...
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06/10/08 -- The FASB Issues ED No. 1590-100 on Hedge Accounting for Public Comment. The Financial Accounting Standards Board (FASB) issued Exposure Draft (ED) No. 1590-100, Accounting for Hedging Activities?an amendment of FASB Statement No. 133, on June...
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6/09/08 -- More Senior Officers Are Getting Snared in Insider Trading Cases. The Securities and Exchange Commission (SEC) has seen a rise in the number of senior company officials engaging in insider trading, a senior SEC official said in a June 4, 2008...
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6/04/08 -- PCAOB Schedules Meeting to Consider Rules on Reporting by Audit Firms. The Public Company Accounting Oversight Board (PCAOB) has scheduled a special meeting for June 10, 2008, to consider rules requiring annual and special reporting of specified...
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6/03/08 -- SEC Issues XBRL Filing Proposal in Release No. 33-8924. The Securities and Exchange Commission (SEC) issued Release No. 33-8924, Interactive Data to Improve Financial Reporting, on May 30, 2008. Comments on the proposal are due by August 1...
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6/02/08 -- FASB and IASB Seek Views on Conceptual Framework Documents. The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) published consultative documents on May 29, 2008, to solicit comments on two...
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