The Committee on Corporate Reporting (“CCR”) of Financial Executives International (“FEI”) wishes to share its views on one particular matter concerning the Financial Accounting Standards Board’s (“FASB” or “Board”) reconsideration of FASB Statement No. 5 – Accounting for Contingencies (“FAS 5”). Specifically CCR is concerned with the implications this project will have on the accounting and disclosures of loss contingencies related to litigation; particularly the prejudicial impacts these changes will have on ongoing or threatened litigation.