At its meeting on June 13-14, 2019, the AASOC received a presentation from Ms. Berger of the AASB staff. She updated the Council on this project, including a discussion of the key issues respondents raised to the Exposure Draft and the Board’s preliminary conclusions. She also outlined the breadth of the feedback the Board received on this project and the Board’s activities to date in considering stakeholder feedback. This included using a Task Force to discuss and analyze feedback. The AASB’s next steps include approving the final standard in September 2019, obtaining Council’s assessment of due process and consideration of the public interest in October 2019, and issuing the new standard in the Handbook by the first quarter of 2020.

Review the minutes on the AASOC's Web site.