AICPA/FAF/NASBA “Blue-Ribbon Panel” on Standard Setting for Private Companies

FASB Small Business Advisory Committee

In 2004, the FASB established the Small Business Advisory Committee (SBAC) to obtain more active involvement by the small business community in the development of financial accounting and reporting standards. SBAC members represent users, preparers, and auditors in the small business community. Those individuals are a standing Board resource; they provide an additional and ongoing source of input on issues before the Board, including issues raised in the development of FASB proposals. The SBAC is being represented by Mark Ellis, the chair of its agenda committee.