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Can PCAOB Fair-Value Guidance Calm Jittery Auditors?

"Now that accounting rulemakers have weighed in on how to measure fair value in illiquid markets and how to deal with other than temporary impairments, the Public Company Accounting Oversight Board is advising auditors on how to assess their client’s mark-to-market assessments. Time will tell, but the practice alert may take some of the steam out of one of the alleged causes of the credit crunch...."
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Source: CFO

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