Compliance Breaking News: FASB Amends Subsequent Events Guidance

Posted by Teresa Bockwoldt on February 24, 2010

From a breaking news email I received from PwC today: 

The FASB has amended its guidance on subsequent events to remove the requirement for SEC filers (as defined in ASU 2010-09) to disclose the date through which an entity has evaluated subsequent events.  This change alleviates potential conflicts with current SEC guidance.  The amended guidance also clarifies that an entity that is a conduit bond obligor for conduit debt securities that are traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local or regional markets) must evaluate subsequent events through the date of issuance of its financial statements and must disclose such date.

Tags: Compliance tools, compliance