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<title>fei financial reporting blog </title>
<description>Highlights from SEC, PCAOB, FASB and IASB News, including Sarbanes-Oxley Section 404.</description>
<link>http://www2.financialexecutives.org/blog/blog.cfm?blog_id=1</link>


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<title>SEC Announces EDGAR to be Succeeded by IDEA; Lutz Speaks on 21 Cen. Discl. Project</title>
<description><![CDATA[  The SEC announced at a &nbsp;press conference earlier&nbsp;today (see related&nbsp; press release ) that they have &quot;unveiled the successor to the agency&rsquo;s 1980s-era EDGAR database, which will give investors far faster and easier access to key  ]]></description>
<pubDate>Tue, 19 Aug 2008 12:54:56 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=549</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=549</guid>
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<title>Board Role Focus Of FEI Comments To COSO On Monitoring Internal Control</title>
<description><![CDATA[   In a    comment letter    filed on Aug. 15, 2008,    FEI&rsquo;s    Task Force on Monitoring (TFM) urged the Committee of Sponsoring Organizations of the Treadway Commission  (  COSO   ) to revise the proposed description of the role of the board of dir ]]></description>
<pubDate>Mon, 18 Aug 2008 07:45:52 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=548</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=548</guid>
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<title>GAO Tax Study Released; Private Cos Request Exemption From FIN 48; COSO Deadline This Week</title>
<description><![CDATA[   Yesterday (Aug. 12) the U.S. Government Accountability Office released a report updating its earlier studies on differences in reported tax liability of &nbsp;Foreign Controlled Domestic Corps (FCDCs) vs. U.S. Controlled Domestic Corps (USCCs).&nbsp;See ]]></description>
<pubDate>Wed, 13 Aug 2008 08:05:51 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=547</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=547</guid>
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<title>Counterparty Risk Management Policy Group Releases Report</title>
<description><![CDATA[   On August 6, the Counterparty Risk Management Policy Group (CRMPG - technically, CRMPG III) released a report: &nbsp;&ldquo;   Containing Systemic Risk: The Road to Reform  .&quot;    
 &nbsp; As noted in     CRMPG&rsquo;s press release,   its recommen ]]></description>
<pubDate>Mon, 11 Aug 2008 09:11:36 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=546</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=546</guid>
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<title>FEI Files Comment Letters On FASB Proposal Amending FAS 5, Contingencies</title>
<description><![CDATA[   Earlier today (Aug. 8, 2008) a number of   Financial Executives International&rsquo;s (FEI&rsquo;s)   technical committees filed comment letters with&nbsp;the Financial Accounting Standards Board, voicing concern on FASB's&nbsp;proposal to change disclo ]]></description>
<pubDate>Fri, 08 Aug 2008 14:41:49 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=545</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=545</guid>
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<title>Legal Community Raises Alarm On FAS 5, Contingencies: Comment Deadline Aug. 8</title>
<description><![CDATA[   The legal community has raised the alarm about proposed changes to disclosure requirements for litigation and other contingencies in FASB&rsquo;s Exposure Draft (ED):  Disclosure of Certain Loss Contingencies-An Amendment of FAS 5 and Statement 141R  (t ]]></description>
<pubDate>Thu, 07 Aug 2008 10:43:03 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=544</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=544</guid>
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<title>FASB Retains November Effective Date For Disclosures Of Credit Derivatives, Other Guarantees</title>
<description><![CDATA[   FASB voted earlier today&nbsp;(Aug. 6)&nbsp;to retain the effective date stated in its proposed FASB Staff Position (FSP) No. FAS 133-b and FIN 45-c,  Disclosures about Credit Derivatives and Certain Guarantees: An Amendment of FASB Statement No. 133 an ]]></description>
<pubDate>Wed, 06 Aug 2008 12:19:36 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=543</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=543</guid>
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<title>AAA Annual Meeting Taking Place in Anaheim This Week</title>
<description><![CDATA[   FEI&rsquo;s blog would like to give a shout-out to all our colleagues participating in the    American Accounting Association (AAA)   &nbsp;annual meeting this week in Anaheim, CA. AAA is the professional association for accounting professors. We unders ]]></description>
<pubDate>Wed, 06 Aug 2008 07:41:55 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=542</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=542</guid>
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<title>SEC Ready To Roll</title>
<description><![CDATA[   With all five commissioners now in place upon last week&rsquo;s swearing in of Commissioners   Luis Aguilar   and   Troy Paredes  , and the July 9 swearing in of Commissioner   Elisse Walter   - joining Chairman   Christopher Cox   and Commissioner   Ka ]]></description>
<pubDate>Mon, 04 Aug 2008 10:02:18 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=541</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=541</guid>
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<title>SEC Complexity Committee (CIFiR) Approves Final Report; Press Conf. Tomorrow</title>
<description><![CDATA[   Earlier today the SEC Advisory Committee on Improvements to Financial Reporting (CIFiR or the &lsquo;Pozen Committee&rsquo; for chair Robert Pozen) voted to approve publication of its final report.&nbsp;  A press conference will take place at the SEC to ]]></description>
<pubDate>Thu, 31 Jul 2008 15:08:29 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=540</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=540</guid>
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<title>SEC Votes To Release Interp Guidance On Use of Corp Websites</title>
<description><![CDATA[    At its open commision meeting earlier today (July 30), the SEC voted to issue guidance in an&nbsp;Interpretive Release&nbsp;on the use of company websites for disclosures to investors. As noted in   SEC's      press release     ,&nbsp;&quot; The&nbsp;i ]]></description>
<pubDate>Wed, 30 Jul 2008 17:42:05 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=539</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=539</guid>
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<title>FASB Votes for Single Effective Date On Securitization Changes, With Earlier Disclosures</title>
<description><![CDATA[   At its board meeting earlier today, FASB voted today to have a single effective date for its proposed amendments to FAS 140,  Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities,  and FIN 46R,&nbsp; Consolidatio ]]></description>
<pubDate>Wed, 30 Jul 2008 17:07:36 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=538</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=538</guid>
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<title>Fair `Nuff ... and ... Now You See It ...</title>
<description><![CDATA[   Today we&rsquo;re going to provide some links to info on two topics: fair value accounting, and SEC&rsquo;s recent settlement with a company and former exec&nbsp;over alleged fraud committed, in part, by use the modern day equivalent of &lsquo;invisible ]]></description>
<pubDate>Wed, 30 Jul 2008 00:34:22 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=537</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=537</guid>
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<title>PCAOB Acts on Successor Firm Registration; SEC To Consider Interp Guidance On Websites</title>
<description><![CDATA[   Earlier today (July 29), the  PCAOB&nbsp; voted to adopt  final rules and a corresponding form (&ldquo;Form 4&rdquo;) to facilitate transferring the registration status from predecessor to successor audit firms  in the event of a merger or other change  ]]></description>
<pubDate>Tue, 29 Jul 2008 17:41:09 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=536</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=536</guid>
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<title>Roadmap to a Roadmap - SEC`s IFRS Roadmap - UPDATED</title>
<description><![CDATA[     [UPDATE 8PM EDT:     Even later today, SEC posted a&nbsp;  press release   announcing the title of the August 4 roundtable as: &quot; Roundtable on Performance of IFRS and U.S. GAAP During Subprime Crisis.&quot;  It appears the description of the roun ]]></description>
<pubDate>Mon, 28 Jul 2008 15:42:35 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=535</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=535</guid>
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<title>Cox, Geithner Tell Congress...</title>
<description><![CDATA[   Accounting issues were among topics addressed to and by  SEC Chairman Christopher Cox  and  New York Fed President Timothy Geithner  at the House Financial Services hearing yesterday (July 24) on    Systemic Risk and the Financial Markets  .  Cox indica ]]></description>
<pubDate>Fri, 25 Jul 2008 15:23:46 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=534</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=534</guid>
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<title>FASB To Reconsider Timing On Proposed Changes To Securitization Rules</title>
<description><![CDATA[   FASB announced in its weekly   Action Alert   yesterday (July 24) that at next week's FASB board meeting, it will &ldquo; reconsider the effective date and transition provisions&rdquo; for its upcoming proposals to amend the securitization standards (FI ]]></description>
<pubDate>Fri, 25 Jul 2008 15:22:30 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=533</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=533</guid>
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<title>FASB Scopes Out Lessors From Leasing Project; Moves Toward Proposal on Disc Op`s</title>
<description><![CDATA[    The FASB board voted at its meeting yesterday (July 23)&nbsp;    to scope out     lessor accounting     and focus on lessee accounting , in its current joint project on leasing with the IASB. This decision was made to help with timing of a final standa ]]></description>
<pubDate>Thu, 24 Jul 2008 10:13:41 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=532</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=532</guid>
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<title>Treasury Adv. Comm. on Audit Prof`n Issues 2nd Draft Report for Comment;  Deputy Chief Acc`t Zoe-Vonna Palmrose Leaving SEC</title>
<description><![CDATA[   Earlier today, the   U.S. Treasury Advisory Committee on the Auditing Profession (ACAP),   co-chaired by former SEC chairman Arthur Levitt, Jr. and former SEC chief accountant Don Nicolaisen, voted to publish for public comment its    Second Draft Repor ]]></description>
<pubDate>Tue, 22 Jul 2008 15:47:46 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=531</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=531</guid>
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<title>Monitoring Group, Enlargement of IASB Board Formally Proposed By IASCF Today</title>
<description><![CDATA[   Earlier today, the International Accounting Standards Committee Foundation (IASCF), which oversees the International Accounting Standards Board (IASB), published for public comment a  Discussion Document  entitled : &ldquo;      Review of the Constituti ]]></description>
<pubDate>Mon, 21 Jul 2008 13:25:07 EST</pubDate>
<link>http://www.financialexecutives.org/blog/permanent.cfm?post_id=530</link>
<guid>http://www.financialexecutives.org/blog/permanent.cfm?post_id=530</guid>
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