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 principle responsibilities of the IAC are to serve as a resource to the FASB and its staff by:

  • Providing focused input relating to (a) broad projects on the FASB’s agenda and (b) emerging trends, including those arising from the implementation of new standards and potential areas for improvement from the investor perspective.
  • Assisting the FASB and its staff with outreach activities to investors on major new standards and other existing guidance, current and proposed projects, and longer-term issues. IAC members are encouraged to communicate with the investor community, both to educate the sector about the roles of the FASB and the IAC and to encourage the investor community to communicate with the FASB on financial reporting matters.
  • Advising on other matters for which the FASB may seek guidance.
The Committee consists of 7 to 11 members, who demonstrate (a) a keen interest in and knowledge of financial accounting and reporting matters, (b) a commitment to improving financial reporting for users of financial statements, and (c) the ability to provide input on a wide variety of financial reporting matters.

Additional Information

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
    Email: aaposta@fasb.org