Earlier today, the FASB announced the launch of a 'web portal' in which private company stakeholders can learn how to provide input to the FASB on matters relating to private company standard-setting, and obtain updates on related developments. more
In a June 28, 2011 Point of view article entitled, “Reducing Complexity,” audit firm PwC called for the formation of an advisory committee by the Financial Accounting Foundation, to advise the FASB on reducing complexity in accounting standards. more
On Friday, June 24, the Financial Accounting Foundation (which oversees the FASB and GASB) published a call for nominations to fill vacancies on the FAF board of Trustees. On the same day, the International Financial Reporting Standards Foundation (which oversees the IASB) announced a call for nominations to fill vacancies on the IFRS Advisory Council.
Earlier today, the IASB published additional guidance relating to IFRS for Small and Medium-Sized Entities, in the form of the first set of final Q&As developed by the IFRS for SMEs Implementation Group. The IASB's action is detailed below, as well as an update on FAF/FASB consideration of private company standard setting.
Earlier today, the PCAOB voted to issue a Concept Release on the Auditor's Reporting Model. more