FASB Update for Investment Funds
Posted on 10.28.13
Author: Christopher L. Wallace, CPA | Business Assurance & Advisory Services Partner
The Financial Accounting Standards Board (FASB) has had recent discussions regarding financial statement footnote disclosures for investment funds. FASB is focused on the risks associated with hedge funds and private equity funds that invest in other investment companies. The board plans to release by early 2014 a proposal requiring these investment companies to include information in their financial statement footnotes about their ownership stake, expenses, fees, and their share of income and loss in other investment companies.