Investor Task Force (ITF)

In September of 2005, the FASB announced the launch of its Investor Task Force (ITF). The ITF is an advisory resource that provides the Board with sector specific insight and expertise from the professional investment community on relevant accounting issues.

The ITF is comprised of the nation’s largest institutional asset managers, each of which provides the FASB with an institutional contact point—typically the Director of Research—who identifies industry specific analysts at their respective firms that match the sector requirements of each standard setting initiative. For example, if an issue on the FASB’s agenda relates to the oil industry, the ITF, as appropriate, would appoint an oil and gas analyst to advise the Board and staff from at least one of the ITF member firms.

ITF Member Firms and their affiliates maintain more than $3 trillion in assets under management. They include:

• The Capital Group Companies

• Fidelity Investments

• General Electric Asset Management

• Mellon Financial Corporation

• Putnam Investments

• T. Rowe Price

• Wellington Management