Those standards are still used by most banks, including Credit Suisse, in their financial reporting.

ECONOMIST: Credit Suisse and Winterthur

Since the eruption of the Enron scandal, Andersen has borne the brunt of an outsized portion of criticism for the company's failure because it certified as fair and accurate Enron's financial reporting--including its use of off balance sheet partnerships to disguise the level of Enron's true indebtedness.

FORBES: Magazine Article

When assessing the effectiveness of internal control over financial reporting and compliance with financial-related laws and regulations, management must follow the assessment process contained in Appendix A. Annually, management must provide assurances on internal control in its Performance and Accountability Report, including a separate assurance on internal control over financial reporting, along with a report on identified material weaknesses and corrective actions.

WHITEHOUSE: OMB Circular A-123 - Management's Responsibility for Internal Control | The White House

U., some of the U.S.' largest trading partners, including Canada, Australia and China, are moving closer to adopting the International Financial Reporting Standards (IFRS).

FORBES: Going Global With Accounting

Short-sellers, including Greenlight Capital's David Einhorn, rather effectively questioned Lehman's financial reporting in the first quarter and said it needed to take much bigger write-downs than it had been taking.

FORBES: Magazine Article

But some details leaked out anyway, including the disclosure in one offering document that Facebook intends to go public or start reporting financial results by April 2012.

WSJ: Goldman to Offer Facebook Shares Only to Non-U.S. Clients