"Accounting Body Offers Advice to World Leaders"

By WebCPA: The Financial Accounting Foundation advised President Bush and other U.S. and world leaders attending the G-20 summit to safeguard fair value accounting and the independent standard-setting process in a strongly worded letter.

The letter followed on the heels of another missive issued by the International Accounting Standards Committee Foundation last week with similar sentiments (see International Accounting Group Appeals to Bush). As with the IASC Foundation letter, FAF Chairman Robert Denham addressed his letter to Bush, but asked the meeting secretariat to circulate the letter to the other summit participants.

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Source: WebCPA, 17 November 2008. © 2007 WebCPA and SourceMedia, Inc. All rights reserved.