Investor Advisory Committee (IAC)
The Financial Accounting Standards Board established the Investor Advisory Committee (IAC or the committee, formerly the ITAC) in 2007.
The IAC is a standing committee that is expected to work closely with the FASB in an advisory capacity to ensure that investor perspectives are effectively communicated to the FASB on a timely basis in connection with the development of financial accounting and reporting standards. The principal responsibilities of the Committee are to:
- Provide focused input and feedback relating to (a) the need for and relative priority of proposed projects, (b) proposals under development, including views with respect to the practical implications of such proposals for users of financial statements, (c) reporting issues, including those arising from the implementation of new standards and potential areas for improvement from the investor perspective, and (d) longer-term issues important to the investor community.
- Assist the FASB and its staff with communication and outreach activities to investors on recent standards and other existing guidance, current and proposed projects, and financial reporting issues. IAC members are encouraged to communicate with the investor community, both to educate the community about the roles of the FASB and the IAC and to encourage the investor community to communicate with the FASB on financial reporting matters.
- Advise on other matters for which the FASB may seek guidance.
The IAC comprises 9-14 individuals experienced in analyzing financial information for the purpose of making investment decisions or advising those that do.
The IAC's charter sets forth the purpose and responsibilities, the membership, and the operating procedures of the IAC.
If you would like more information about the IAC, please contact:
- Alicia A. Posta
Executive Director, FASB Advisory Groups
Financial Accounting Standards Advisory Council
401 Merritt 7
P.O. Box 5116
Norwalk, CT 06856-5116
Phone: (203) 956-5207
Fax: (203) 849-9714