Accountants are failing investors with "fair value" accounting

2 responses

  1. tranche says:

    ACA actually switched to a full spread based method under FAS 157 — using CDS spreads to provide marks if the market is unwilling to step up and bid

    so it looks like they are trying to account as fairly as possible, unlike many of their peers that put out 2nd quarter numbers using models that take into account ratings in addition to a number of other things. whats ACA’s reward for the increase transparency? they get pounded in the equity market on new that they are sitting on massive paper losses.

  2. Karen Walter says:

    I disagree with the above statement and I can prove that with firm that I am associated with.

    Karen Walter

    Accounting Firm Toronto

    CA4IT (Chartered Accountants for Information Technologists) is the largest network of Chartered Accounting firms in Canada that focus on providing bookkeeping, accounting, tax, paralegal and financial planning services to independent contractors (small business) in the IT industry.

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