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FASB restructures Small Business Advisory Committee

  • FASB (US Financial Accounting Standards Board) Image

Sep 22, 2016

The FASB has announced the restructuring of its Small Business Advisory Committee (SBAC) and the appointment of 16 members to the committee.

The restructured SBAC “is intended to serve as a standing resource for the FASB in obtaining input from smaller public companies on existing guidance, current and proposed technical agenda projects, and longer-term issues affecting those organizations.”

FASB Chairman Russell Golden explained why the SBAC was restructured:

With the Private Company Council (PCC) increasing its focus on providing the FASB with private company perspectives on the FASB’s active agenda projects, we decided to take another look at the SBAC’s purpose to eliminate the duplication of the PCC’s efforts. Consequently, the FASB concluded that SBAC should shift its focus to the needs of small public companies, thereby further expanding our ability to serve all of our stakeholders by providing this unique group a dedicated voice in the process.

For more information, including the list of SBAC members, see the press release on the FASB’s Web site.

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