International


 The International Accounting Standards Board (IASB) published guidance on the application of fair value measurement when markets become inactive. The guidance includes a report by an expert advisory panel established to consider the issue, as well as a summary document highlighting important issues associated with measuring the fair value of financial instruments when markets become inactive. The summary takes into consideration and is consistent with documents issued by FASB on Oct. 10 and by the Office of the Chief Accountant of the SEC and FASB staff on Sept. 30, according to an IASB news release. The guidance can be downloaded at www.iasb.org/expert-advisory-panel. A comprehensive summary of the IASB response to the credit crisis is available at www.iasb.org/credit+crisis.

 The IASB and FASB announced that they will create a global advisory group comprising regulators, preparers, auditors, investors and other users of financial statements. The advisory group will help to ensure that reporting issues arising from the global economic crisis are considered in an internationally coordinated manner. For more information, visit www.iasb.org or www.fasb.org.

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

News quiz: Senate health care bill in the spotlight

Reports related to the Republican bill to repeal many provisions of the PPACA, other tax issues, and the giant AICPA ENGAGE Conference offered a diverse reading list for June. See how much you know about recent news with this short quiz.