AICPA Applauds SEC Staff Recommendation Against the Suspension of Fair Value Accounting.

WASHINGTON -- The following is a statement by Barry Melancon, president and CEO of the American Institute of Certified Public Accountants on the SEC's Dec. 30 release of the Study on Mark-to-Market Accounting, mandated by Congress as part of the Emergency Economic Stabilization Act of 2008.

"The AICPA is pleased the SEC staff recommended against the suspension of fair value accounting rules," Melancon said.

"The SEC's finding that fair value accounting provides increased transparency and allows for better decision-making on the part of investors is consistent with AICPA's position," Melancon said. "The role of accounting standards is to provide investors and management with the best possible information about the financial condition of publicly-traded companies."

About the AICPA

The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association of CPAs, with more than 350,000 CPA members in business and industry, public practice, government, education, student affiliates, and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination.

The AICPA maintains offices in New York, Washington, D.C., Durham, N.C., Ewing, N.J., and Lewisville, TX.