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Deloitte Alert on other-than-temporary impairments

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14 Oct 2008

Deloitte (United States) has published a Financial Reporting Alert on The Impact of the Emergency Economic Stabilization Act on the Assessment of Other-Than-Temporary Impairments.

The Act became law on 3 October 2008. Deloitte Financial Reporting Alert 08-15 (PDF 27k) points out that impairment assessments are made as of the financial reporting date. The Alert states that 'the enactment of the Act on 3 October 2008 may not affect an entity's assessment, as of a prior reporting date, of its intent to hold an impaired security until forecasted recovery'.


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