FAS 157: A Paradigm Shift for Fair Value

What is FAS 157?
FAS 157 is the financial accounting standard which establishes appropriate methods to determine the fair value of assets and liabilities- particularly those that are illiquid.

Does FAS 157 apply to Pension and Endowment Funds?
YES- Trustees and fiduciaries are responsible for the fair value of fund investments.
AUDIT IS NOT A SAFE HARBOR!

Where can I learn more about FAS 157?
See Axiom on Fair Value:

  • Podcasts
    1. Stan Feldman On Misreporting Alternative Investment Values 02-16-2010 (Podcast)
    2. Stanley Feldman On the Five Myths About the Fair Value of Alternative Investments (Podcast)
    3. Stanley Feldman on Fiduciary Responsibility, Post-Madoff (Podcast)
  • Research Library
    1. Alternative Investment Report
    2. GIC Valuation Report
    3. Five Myths About the Alternative Investment Report


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