Should Florida possibly employ better standards for financial disclosure?
G20 calls for improved valuation and provisioning At its London summit, the G20 called on the accounting standard setters to work urgently with supervisors and regulators to improve standards on valuation and provisioning. It also called on them to achieve a single set of high quality global accounting standards. The G20 also expanded the Financial Stability Forum to become the Financial Stability Board. The board will have wide authority to review and advise financial regulators and standard setting bodies. G20 recommendations for accounting standard setters for 2009 include: * reducing the complexity of accounting standards for financial instruments * strengthening accounting recognition of loan loss provisions by incorporating a broader range of credit information * improving accounting standards for provisioning, off balance sheet exposures and valuation uncertainty * achieving clarity and consistency in the application of valuation standards internationally, working with superviso
The Center for Public Integrity has been reporting on disclosure requirements in state legislatures since 1999, and bases its rankings on a 43-question survey that measures public access to information on legislators’ employment, investments, personal finances, property holdings or other activities outside the legislature. Survey answers are assigned a numerical value adding up to a possible 100 points; the highest scores reflect the highest degree of disclosure. Advertisement WASHINGTON, D.C. — Florida, despite its openness to public records laws and requirements, earned a D grade from the Center for Public Integrity for transparency of state financial disclosure requirements for its lawmakers. The center, a nonprofit organization devoted to investigative journalism, targets government accountability and transparency. Florida’s D was only six points from an F. Out of a possible 100 points on a 43-question survey that measures public access to lawmakers’ personal information, Florida s
Florida, in spite of their openness to public records laws and requirements, didn’t score as well as they hoped. They earned a D grade from the Center for Public Integrity for transparency of state financial disclosure requirements for its lawmakers. Hopefully, they’ll employ a better strategy next time.
