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Note: Subsequent to the issuance of this Draft Issues Paper, the FASB added a number of fair value related projects to its agenda, including the application of FASB Statement No. 157, Fair Value Measurements, to interests in alternative investments, such as hedge funds and private equity funds. Please refer to FASB Web site for more information. |
The Accounting Standards Executive Committee (AcSEC) of the American Institute of Certified Public Accountants (AICPA) has issued a draft issues paper, FASB Statement No. 157 Valuation Considerations for Interests in Alternative Investments. The draft issues paper discusses how to estimate the fair value of alternative investments (such as interests in hedge funds, private equity funds, or real estate funds) in accordance with the provisions of FASB Statement No. 157, Fair Value Measurements. Among other things, the draft issues paper discusses the role of net asset value (NAV) in estimating fair value.
We are looking for your informal feedback on this draft issues paper. All comments will be kept confidential and will not be posted on the AICPA Web site. If you would like to provide comments, please e-mail them to ymishkevich@aicpa.org by February 27, 2009. Or, you can send them by mail to Yelena Mishkevich, Technical Manager, Accounting Standards, AICPA, 1211 Avenue of the Americas, 19th Floor, New York, NY 10036. AcSEC and the Alternative Investments Task Force which developed this draft issues paper are looking forward to hearing from you.
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Download the Draft Issues Paper