According to CFO, there is debate as to how companies are handling lawsuits and their accounting rules and disclosures. Under the new rules of FASB, companies would not have to disclose any information that they feel is prejudicial or confidential. This would include not disclosing any information about the money they pay to investors to settle disagreements.
Last September, when the board decided companies would have at least another year before having to comply with the new rules, it agreed to collect more feedback by asking companies to do sample runs of its first proposal and the alternative version currently being crafted. However, only a few companies have shown interest in participating.
Read the full article here.
Thursday, August 20, 2009
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