[17846]
July 30, 2004
TO: ACCOUNTING/TREASURERS COMMITTEE No. 24-04
SEC RULES COMMITTEE No. 66-04
RE: CONFERENCE CALL TO DISCUSS FASB FAIR VALUE EXPOSURE DRAFT
As we previously informed you, the Financial Accounting Standards Board recently
issued an exposure draft of a proposed accounting standard entitled Fair Value Measurements.1
If adopted, the exposure draft would amend generally accepted accounting principles and
would apply to all entities that prepare GAAP-based financial statements, including investment
companies.2 The proposed FASB exposure draft differs from SEC valuation guidance in certain
instances as described in the attached document.
A conference call has been scheduled for Friday, August 6, 2004 at 2:00 p.m. Eastern time
to discuss the FASB proposal. Please notify Agnes Thomas no later than August 5 via email
(agnes@ici.org) if you plan to participate in the conference call. To participate in the call, please
dial 888-790-3051 and enter passcode number 52456.
Gregory M. Smith
Director - Operations/Compliance & Fund
Accounting
Attachment (in .pdf format)
1 See Accounting/Treasurers Committee No. 22-04, SEC Rules Committee No. 57-04 dated July 1, 2004 [17743].
2 The exposure draft is available from the FASB website http://www.fasb.org/draft/index.shtml.