New York (March 23, 2004) -- In response to the introduction of a number of proposed bills in Congress that recommend legislative action for the accounting for stock options, the Big Four accounting firms called on Congress to preserve the Financial Accounting Standards Board's independence and to avoid legislation that would restrict FASB’s ability to establish accounting standards.
In a joint letter to members of Congress last week, leaders of the four firms also reaffirmed their support for the mandatory expensing of all employee stock options "whose fair value would be determined in a manner suitable for the reporting company."
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