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US Senate hearings today on stock option accounting

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12 Nov 2003

The Securities and Investment Subcommittee of the US Senate Banking Committee is today holding a Public Hearing titled "The Financial Accounting Standards Board and Small Business Growth".

FASB Chairman Robert Herz is among those testifying. The hearing relates to a bill that would force a 3-year study period before the SEC could accept any changes to accounting for stock options. A similar bill has been introduced in the US House of Representatives. The IASB has proposed to require recognition of the fair value of Share-Based Compensation as an expense, and the FASB recently voted to issue an exposure draft with a similar proposal (see our news story of 30 October 2003).

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