By : Espen Robak | February, 28 2009"PEIGG is not a standard setting body and the FASB does tell us what fair value is and those are the rules we follow. Guidelines are fine, and it's a start, but we've got to get to fair value." Private Equity Leadership Summit Our accounting standard-setters might well be forgiven for wondering what hit them. It must have been hard to imagine how controversial FAS 157 would become when its adopting release was published in 2006. To read the entire article click here.