FASB	Amendments to EITF Issue 99-20	The objective of this project is to amend the impairment (and related interest income measurement) guidance in EITF Issue No. 99-20, “Recognition of Interest Income and Impairment on Purchased Beneficial Interests and Beneficial Interests That Continue to Be Held by a Transferor in Securitized Financial Assets,” to achieve a more consistent determination of whether an other-than-temporary impairment has occurred. [Read More]
	Update on mark-to-fire-sale accounting - FASB impairment guidance revised in FSP No. EITF 99-20-1	The FASB amended the guidance for assessing impairments of financial assets in EITF Issue No. 99-20. But the final document included a formal dissent from two of the five members of the standard-setting body, who complained that the accounting change may do more to undermine investor confidence in the health of financial companies instead of shoring it up. [Read More]
SEC	SEC Extends Nasdaq's Temporary Suspension of Dollar Delisting Threshold	The SEC extended the temporary suspension of the Nasdaq listing requirement by three months so that companies whose shares fall below $1 can continue to be traded on the Nasdaq Stock Market. [Read More]
AICPA	Current Economic Crisis: Accounting and Auditing Considerations	The U.S. is experiencing great economic instability and the U.S. government is taking unprecedented actions in efforts to curtail the economic crisis. The National Bureau of Economic Research officially declared that the U.S. entered into a recession in December 2007. The length of the recession and if the U.S. enters into a depression is yet to be determined. [Read More]
PCAOB	No Activity
IASB	IASC Foundation publishes IFRS Taxonomy 2009 for public comment	The International Accounting Standards Committee (IASC) Foundation today announced the release of the near final version of the IFRS Taxonomy 2009 for public comment. [Read More]