FASB Statement No. 165, Subsequent Events [FASB ASC 855]
In May 2009, the FAS B issued Statement of Financial Accounting Standards No. 165, Subsequent Events (“SFAS 165”) [FAS B ASC 855] which is effective for interim or annual periods after June 15, 2009, and established a new GAAP requirement for management to evaluate subsequent events to the date the financial statements are issued or available to be issued and to disclose that date in the notes to the financial statements. The date of the Management Representation letter will also correspond to this date.
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