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Household names up in arms over class action transparency legislation

Perhaps the time has come for an actions regarding whether accounting standards have crossed the line in recent years and in many cases have become the equivalent of regulations; if so the case should be made that “regulation-style accounting standards” result in “regulations without representations”. Are over-the-top disclosures a vote of no-confidence by the FASB in the ability of the Public Accounting Profession to render opinions on financial statements?

29-Sep-2010

8:19 pm