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FASB Requesting Participation in FASAC Survey
by Gail Perry on
The Financial Accounting Standards Advisory Council (FASAC), the primary advisory group for the Financial Accounting Standards Board (FASB), has issued a survey to solicit stakeholder views about the FASB’s future agenda. Participants are asked to respond to the survey by May 30, 2013.
Part of the FASAC’s role is to advise the FASB on future project priorities and on possible new agenda items. To fulfill that mission, the FASAC historically has conducted a periodic survey of stakeholders. With the completion of several major FASB projects - including revenue recognition - expected in the coming months, the survey is intended to provide feedback to the FASB as it decides on future projects.
The survey asks stakeholders to share their views on project priorities and includes open-ended questions to provide an opportunity for respondents to elaborate on the areas that they believe are the most important for the FASB to address in the future. All interested parties are welcome to participate.