Two technical committees from Financial Executives International have sent a letter making suggestions to the Financial Accounting Standards Board's proposed interpretation, "Accounting for Uncertain Tax Positions."
Sent from FEI's technical committees on corporate reporting and taxation, the Sept. 9 letter makes the case that the proposed interpretation would fail to eliminate the diversity of practice that currently exists for the accounting of uncertain tax positions. The committees suggest an "impairment approach," similar to that used in accounting for contingencies.
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