Companies will face widespread reporting challenges related to disclosure
Temporary change will ease valuations for assets in markets with little liquidity
Credit crisis has highlighted the need for clear presentation of financial information
Some say suspension of the accounting rule tying value to current markets is crucial
Curtailment of packaging assets and selling them as securities would require big hike in loan loss reserves at U.S. banks
The report will look at accounting standards and the impact of bank failures, among other things
Chairman of Canadian Accounting Standards Board says measuring fair value in turbulent times can be very difficult
In some cases, it will be only a one-year blip; in others, it could have a more profound effect on bonuses
Certain players say the use of fair-value accounting should be suspended for financial institutions
SEC sets out multiyear plan that could lead to the use of International Financial Reporting Standards by U.S. issuers