"Ready for Global Financial Standards?" - Malin Bergquist Partners Deane and Kern Publish Guest Column in Pittsburgh Post-Gazette – As the Obama administration dismantles the prior administration's financial policies, the nation's corporate finance and accounting communities are in limbo over a major, pressing question. At issue is whether to abandon a tried and true, but complex and globally unpopular financial reporting system and join the majority of the industrialized world in adopting international financial reporting standards (IFRS). More >

Congress Turns Up Heat on FASB as Fair Value Debate Rages – While the nation’s economy continues to flounder, elected leaders in Washington are scrambling to place blame and provide a quick-fix reactionary solution.On one side of the debate is the banking industry which is clamoring for a suspension or modification of the mark-to-market (or “fair value”) accounting rules. On the opposite side are investor advocates and those in the accounting profession who claim that fair value accounting provides transparency and did not cause the financial crisis. One commentator suggested that blaming mark-to-market accounting rules for the market meltdown would be akin to blaming the National Weather Service for Hurricane Katrina. More >

Next Issue – Smaller reporting companies – no more SOX audit delays? .

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