SEC letter on fair value measurements

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18 Sep 2008

On 28 March 2008, the US SEC's Division of Corporation Finance sent a letter to certain financial institutions concerning additional disclosure considerations in Management's Discussion and Analysis (MD&A) regarding fair value for their upcoming filings on Form 10-Q.

While the letter was sent only to financial institutions, the SEC staff indicated that the letter 'can be applicable to any company'. Details are on our Credit Crunch Page, including a link to a Deloitte Financial Reporting Alert (PDF 57k) about the letter. On 16 September 2008, the SEC issued an Addendum to the 28 March 2008 Letter (PDF 49k) identifying additional disclosure issues related to fair value measurements that companies may wish to consider in preparing their MD&A. The additional issues are the result of the SEC's reviews and the public roundtables that took place over the summer.

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