S&P warns against meddling with fair-value accounting rules

10/15/2008 | Bloomberg Businessweek

Standard & Poor's Ratings Services views a possible suspension or modification of fair-value accounting rules as a big step backward, although clarifications by the Securities and Exchange Commission and the Financial Accounting Standards Board were helpful. Challenges faced by market participants struggling to determine representative fair values in volatile and illiquid markets would have stressed any financial-reporting system, S&P representatives write.

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