Russell Golden, the newly appointed chairman of the Financial Accounting Standards Board, will be overseeing a board that will be dealing with a new uncertain environment in which it will be only one of a number of standard-setters from around the world working together in a more multilateral way to decide on future standards for the profession to follow.
In a meeting at the Accounting Today offices Friday, he described FASB’s changing role in setting standards internationally and in the U.S. “When we make improvements to U.S. GAAP, I want to understand how those improvements could be potentially accepted in other jurisdictions, so I would want to reach out to other jurisdictions to understand what they think about the improvements we are making,” he said.
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