NEWS RELEASE 05/08/13

FASac Survey now available at www.fasb.org


Survey seeks stakeholder input on future project priorities for the FASB

Norwalk, CT, May 8, 2013—The Financial Accounting Standards Advisory Council (FASAC), the primary advisory group for the Financial Accounting Standards Board (FASB), today 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.

The survey can be accessed at www.fasb.org.

About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.