SEC Roundtable on Fair Value Accounting
and Auditing Standards

ARCHIVED VIDEO WEBCAST
Original Live Broadcast:
Wednesday, July 9, 2008

The Securities and Exchange Commission hosted a roundtable on July 9, 2008, to facilitate an open discussion of the benefits and potential challenges associated with existing fair value accounting and auditing standards. The roundtable was held in the auditorium at the SEC's headquarters at 100 F Street, N.E., Washington, D.C. The roundtable was organized as two panels. The first panel discussed fair value accounting issues from the perspective of larger financial institutions and the needs of their investors. The second panel discussed the issues from the perspective of all public companies, including small public companies, and the needs of their investors.

The panels included investors, preparers, auditors, regulators and other interested parties. Additionally, representatives from the Financial Accounting Standards Board, International Accounting Standards Board and Public Company Accounting Oversight Board were present as observers.

The panel discussions with focus on:

• the usefulness of fair value accounting to investors
• potential market behavior effects from fair value accounting
• practical experience and potential challenges in applying fair value accounting standards
• aspects of the current standards, if any, that can be improved
• experience with auditors providing assurance regarding fair value accounting