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FEI Committee on Private Companies Asks FASB To Exempt Private Cos From FIN 48
August 12, 2008
FEI Summary
On Aug. 12, 2008, FEI’s Committee on Private Companies Standards Subcommittee filed a comment letter with the Financial Accounting Standards Board asking that private companies be exempted from FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes. The FEI letter backs a similar request made on May 30 by the Private Companies Financial Reporting Committee (PCFRC), a joint committee of FASB and American Institute of Certified Public Accountants, and notes additional points.
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