Client Alert
| September 25, 2009
FASB Begins Redeliberations on Disclosure of Certain Loss Contingencies Project
At its meeting on August 19, 2009, the Financial Accounting Standards Board began redeliberations on the proposed amendments to disclosure requirements applicable to certain loss contingencies contained in Statement of Financial Accounting Standards No. 5, Accounting for Contingencies ("FAS 5") (now FASB Accounting Standards Codification Subtopic 450-20). In its redeliberations, the FASB decided to focus initially on disclosure of litigation loss contingencies, with other types of loss contingencies to be considered at future meetings.
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