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July 25, 2008
FASB moving forward on improved, but still weak, corporate disclosure of environmental, other contingencies
From Dirt Diggers Digest: Many companies—from cigarette manufacturers to investment banks involved with subprime mortgages—have failed to fully inform investors of potential liabilities. They have been able to do so, in large part, because of lax accounting rules. But the piece goes on to point out that longtime activists on these issues are concerned that a proposal to require improved disclosures before the accounting board known as the FASB is weak: The Investor Environmental Health Network (IEHN), "a collaborative project of investment managers that tracks product toxicity issues," has just issued an appeal for interested parties to submit comments urging FASB to adopt stricter standards for Statement No.5. The comments are due by August 8. Our previous blog.
Posted by Ed Mierzwinski at July 25, 2008 10:15 AM
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