AICPA to Focus On Disclosure
The American Institute of Certified Public Accountants has decided to change the focus of its loan loss reserve project, which had run into strong objections from federal banking regulators and the banking industry.
"We are going to proceed with the project but it is going to focus on disclosures only, as opposed to trying to develop more detailed guidance on the basic accounting for loan losses," said Dan Noll, AICPA's director of accounting standards.
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