Statement on fair value from French regulators
Oct 28, 2008
Four French accounting and regulatory authorities have issued a joint recommendation to address the accounting treatment of certain financial instruments that can 'no longer be reliably priced on the market because of the ongoing turmoil'.
Essentially, the group supports the guidance recently provided by the IASB and FASB in this regard. The four French authorities are the national accounting board (Conseil national de la comptabilité), securities regulator (Autorité des marchés financiers), banking supervisor (Commission bancaire) and insurance oversight authority (Autorité de contrôle des assurances et des mutuelles). Click to download the Statement of French Authorities (English) (PDF 44k) and French Language Version (PDF 51k).