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Deloitte USA Alert on credit risk disclosures

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23 Jan 2008

Deloiite & Touche LLP (United States) has published a Financial Reporting Alert on Turmoil in the Credit Markets: The Importance of Comprehensive and Informative Disclosures.

This alert underscores the importance of providing comprehensive and informative disclosures about (1) the effects of the current credit environment on financial statements and (2) the potential exposures associated with this environment. In addition, this alert highlights the need for disclosures about many of the concerns expressed by the FASB, SEC, and PCAOB regarding the challenges organisations face in this environment. The alert includes three appendices:
  • Appendix A: Recent SEC Comments That Are Relevant to the Current Credit Environment
  • Appendix B: Excerpts From Recent Registrant Disclosures
  • Appendix C: Sample SEC Letter Emphasizing Disclosures About Off-Balance-Sheet-Entities
Click to Download the Financial Reporting Alert (PDF 247k).

 

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