MEDIA ADVISORY 09/23/10
FASB Announces Public Roundtable Meetings to Solicit Input on the IASB Staff Draft on Consolidated Financial StatementsNorwalk, CT, September 23, 2010—The Financial Accounting Standards Board (FASB) has announced it will host, in conjunction with the International Accounting Standards Board (IASB), two public roundtable meetings to elicit input from its stakeholders on the Staff Draft of the standard with which the IASB plans to replace IAS 27, Consolidated and Separate Financial Statements and SIC-12, Consolidation –Special Purpose Entities, on consolidated financial statements. The roundtables are part of a series of such forums planned for the fall and are designed to provide interested stakeholders in the United States the opportunity to express their views on major joint FASB/IASB projects in progress.
The FASB public roundtable meetings on the IASB Staff Draft on consolidated financial statements will be held Monday, October 25, 2010. Session 1 will be held from 9:00 a.m. to 12:00 p.m. Session 2 will be held from 1:00 p.m. to 4:00 p.m. Both sessions take place at the FASB offices, 401 Merritt 7, Norwalk, Connecticut 06856.
The Board plans to seek participants for the meetings that represent a wide variety of constituents, including users, preparers, auditors, and others to ensure that it receives broad input. Any individual or organization desiring to participate must notify the FASB and provide responses to the questions included in the roundtable agenda, which will be posted to www.fasb.org in the coming days, by sending an e-mail to email@example.com by October 12, 2010.
Those interested in observing the roundtables must pre-register for specific sessions. Each session will be audiocast live 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.