The Financial Accounting Foundation posted its 2015 Annual Report to its website Thursday.
The annual report highlights how the FAF, which oversees the Financial Accounting Standards Board, the Governmental Accounting Standards Board and the Private Company Council, serve the capital markets through the standard-setting process. The report profiles 16 financial statement users who explain why high-quality accounting standards are important to the work that they do. Those profiled include institutional and retail investors, municipal analysts, and data aggregators who use the U.S. GAAP Financial Reporting Taxonomy.
The report also includes letters to stakeholders from FAF chairman Charles H. Noski, FAF president and CEO Teresa S. Polley, FASB chair Russell G. Golden, and GASB chair David A. Vaudt.
The annual report also provides a high-level summary of the year’s highlights. In addition to management’s discussion and analysis and audited financial statements, the annual report includes listings of all FAF, FASB, and GASB advisory groups, including the Private Company Council and the Emerging Issues Task Force, as well as key FASB and GASB publications issued in 2015.
In addition to PDF and hard copies of the annual report, in early June the FAF plans to offer a mobile-friendly digital version that features videos and links to FAF, FASB and GASB documents.