Read FASB Response to SEC Study on Arrangements with Off-Balance Sheet Implications, Special Purpose Entities, and Transparency

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Read “FASB Response to SEC Study on Arrangements with Off-Balance Sheet Implications, Special Purpose Entities, and Transparency of Filings by Issuers” (Feb 2006, available on FASB’s website). Ask how would you frame the tenor of the FASB’s response. To what extent does it agree with the SEC’s study?
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