Asset managers get reprieve from FAS167

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As we discussed earlier, FAS 167 would embellish a nightmare for asset managers. Instead of providing more transparency, the FAS167 reporting would actually end up with less.

E&Y: As written, Statement 167 haw termination in asset managers consolidating many inclose funds, clannish equity assets and other investment assets that they manage. Some financial evidence preparers and users hit indicated that compounding of assets by asset managers module termination in less meaning financial statements

FASB fresh decided to defer hitting asset managers with 167 until these compounding issues are addressed.

E&Y: At the 11 Nov meeting, the FASB voted to expose for interpret an amendment that would defer the covering of Statement 167 for a restricted sort of entities (principally mutual funds, clannish equity assets and inclose funds) until the completion of the joint FASB/IASB project on compounding accounting.

It's good to undergo that when it comes to the post-crisis conception (including accounting/transparency regulation)at small some folks are existence rational about it.


FAS167 for Asset Managers

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