Financial reporting complexity: FEI's four-point plan.
1. The FASB and SEC, in coordination with key financial reporting stakeholders (preparers, auditors and financial statement users), should take steps to end the proliferation of detailed rules;
2. Congress should consider meaningful class-action reform;
3. The SEC and PCAOB should develop a framework that provides effective regulation in a principles-based environment, one that balances the objective of investor protection with the need to maintain market competitiveness; and
4. Stakeholders should come together to form an independent "Committee on Complexity."
The full text and more is available on FEI's website at www.fei.org; then click on "Financial Reporting homepage."
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|Title Annotation:||financial reporting|
|Author:||Heffes, Ellen M.|
|Date:||Jun 1, 2007|
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