Does Deloitte Not Understand FAS 157?
Kohlberg Capital Corp., a publicly-traded business development company, has filed an 8-K that includes a major dig at accounting firm Deloitte & Touche LLP. Kohlberg reported that Deloitte gave an unqualified opinion on Kohlberg’s financial statements for the 2008 fiscal year, but that the accounting firm later conducted an internal inspection process “of the methodology and procedures used to prepare the valuations” under FAS 157. As a result, Deloitte requested supplemental information.
16 December 2009•5 mins read
