Disclosure of loss contingencies at the FASB
Submission to the Financial Accounting Standards Board (FASB) on requiring more stringent corporate disclosure.
“This loophole creates the overwhelming likelihood that many companies will continue (as in the past) to strategically ‘misjudge’ or misstate the risks that investors actually face. Investors have suffered enough of this already, and we do not need empty gestures now in place of real reform.”