A total of 33 state CPA societies representing over 275,000 CPAs have written letters so far to the Financial Accounting Foundation or passed resolutions urging the FAF to create a new accounting standard-setting board for privately held companies, according to the American Institute of CPAs.

A trustee working group at the FAF has been studying the recommendations in a Blue-Ribbon Panel report on standard-setting for private companies and is expected to release its proposals for changes in the standard-setting process and structure in the next few weeks (see Terri Polley on Private Standards, IFRS, and Changes at FASB and GASB and FAF Group Plans Changes in Accounting Standard-Setting).

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access