Attestation Update – A&A for CPAs

Technical stuff for CPAs providing attestation services

Recap of revision to repo accounting (topic 860)

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John Hufnagle has a short recap of ASU 2001-03, Transfers and Servicing (Topic 860), (which deals with repo accounting) at his blog. His post is Repo Accounting (ASC 860) Changed by ASU 2011-03

Common perception of the new ASU I’ve seen from commentators is that it is a response to the perceived abuses by Lehman Brothers.

Written by Jim Ulvog

May 4, 2011, 9:21 am at 9:21 am

Posted in Accounting

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