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US Congressional committee holds stock option hearings

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06 Jun 2003

On 3 June 2003, the Committee on Financial Services of the US House of Representatives held a public hearing on The Accounting Treatment of Employee Stock Options.

Among those testifying were Paul A. Volcker, Chairman of the IASC Foundation Trustees, and Robert H. Herz, Chairman of the US Financial Accounting Standards Board. You can download their (and other) testimony at the Committee's Website. You can also find their testimony on our Resources Page. The committee held the hearing in connection with proposed legislation that has been introduced in the House of Representatives (H.R.1372, the "Broad-Based Stock Option Plan Transparency Act of 2003") that would, in effect, impose a three-year moratorium on SEC recognition of "any new accounting standards related to the treatment of stock options".

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