FEI Responds To FASB On Proposed Delay Of FIN 48 For Private Companies
January 18, 2008
FEI Summary

On Jan. 18, 2008, FEI's Committee on Private Companies, standards subcommittee filed a comment letter with the Financial Accounting Standards Board (FASB) on proposed on  Proposed FASB Staff Position (FSP) No. FIN 48-b, “Effective Date of FASB Interpretation No. 48 (FIN 48) for Nonpublic Enterprises." FASB's proposal relates to FIN 48, Accounting for Uncertainty in Income Taxes.

The FEI letter, signed by William Koch, chair of the FEI CPC Standards Subcommittee, supports FASB’s proposed delay of FIN 48 for private companies, notes certain concerns and makes some recommendations to FASB to address those concerns in finalizing the FSP. Koch is vice president & CFO, Development Dimensions International Inc.

Prepared by Serena Dávila, Director, Technical Activities, and Edith Orenstein, Director, Technical Policy Analysis, Financial Executives International (FEI). This summary does not represent FEI opinion unless specifically noted above.