FASB Developments

• FASB Partially Defers Effective Date of Fair Value Statement 157
• FASB Excludes Leases From Scope of Fair Value Statement 157
• FASB Indefinitely Defers SOP 07-1 Affecting Investment Company Accounting
• FASB Issues FSP Under Which Repurchase Financing Activities May Be Derivatives
• FASB Proposes FSP on Net Asset Classification of Endowment Funds
• FASB Proposes FSP on Fresh-Start Reporting
• FASB Reduces Board Members From Seven to Five
• FASB's Valuation Resource Group Discusses Six Topics
• FASB Discusses Changes to Defined Benefit Plan Asset Disclosures and Other Matters
• FASB's PCFRC Provides Input on Definitions of "Issuer" and "Nonissuer"

• AICPA Issues Revisions to Accounting and Review Services Guidance

• SEC Issues Disclosure Rules for Smaller Companies
• SEC Mandates Electronic Filing of Form D
• SEC Votes on Foreign Private Issuer Rule Amendments
• SEC Proposes One-Year Deferral of Section 404 Requirement for Smaller Public Companies
• SEC Proposes Disclosure Requirements for Companies Implementing the Sudan Accountability and Divestment Act of 2007
• SEC Financial Reporting Advisory Committee Releases Progress Report
• SEC Launches 'Financial Explorer' to Help Investors Analyze Corporate Performance

• PCAOB Proposes New Auditing Standard on Engagement Quality Reviews

• IASB Amends Financial Instruments Standard for Puttable Instruments and Obligations Arising on Liquidation
• FASB Proposes to Narrow Definition of Equity; IASB Issues Discussion Paper Seeking Constituents' Views

• Recent Tax Ruling Affects Tax Positions Related to Executive Compensation