Some people say that reluctance calls out for more stringent reporting standards.

In April, the seven-member board issued financial reporting standards for health plans that cover state and local government employees.

Common economic reporting standards are expected to go into place soon.

"A board member's responsibility is to bring out the best possible accounting and financial reporting standards," he said.

This could be due to high reporting standards which could vary among schools.

The financial reporting standards used by red chips still fall short of American companies.

No single event fully explains the breakdown in financial reporting standards, experts say.

Support development of financial reporting standards by carrying out research or encouraging others to research.

Reasons include federal reporting standards and the glare of the spotlight from the media.

So this time it raised its reporting standards.