FAIR VALUE, IFRS, AND LITIGATION CAPS HANG IN THE BALANCE AS A NEW ADMINISTRATION LOOMS FOR AMERICA
October 1st, 2008
BY JOSEPH GOLDSTEIN
THE ACCOUNTANCY profession in the United States might think its day of reckoning came and went in 2002. But those who thought that the Sarbanes Oxley Act was the final word in regulation for the accounting profession may be in for a rude surprise.
Both Barack Obama and John McCain have pledged to put what remains of Wall Street's financial institutions under a close watch. And not since Franklin Delano Roosevelt entered the White House in 1933 have the American people appeared so keen to see it happen.
The only sure outcome of the ...
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