Ranking Member Spencer Bachus sent a letter on July 22, 2008, to the Chairmen of the Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB) expressing concern regarding their proposed timeline and anticipated changes to FASB Statement 140 and Interpretation 46(R).
Bachus recommends the SEC and FASB extend the deadline for changes to allow for a full opportunity for all stakeholders to evaluate and comment on all policy alternatives and their consequences.
Click here for a copy of the letter.
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