Any relaxation would take pressure off of financial institutions
Banks and insurers should use market prices in most circumstances
Fair value accounting is not working effectively
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