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AICPA responds to address FAF's
failure to create independent board for
Private Company Financial Reporting |
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Dear Financial Leader,
The Financial Accounting Foundation (FAF) has released its proposal regarding private company financial reporting, and the AICPA’s Chairman and President/CEO have issued a press release, which is available at this link.
It’s important to note that this does not signal the end of the private company financial reporting initiative, and we’ll be asking members, state societies, and key organizations to continue to weigh in with comments. FAF’s proposal is similar to other proposals that have come out over the years, and it does not address the recommendation of the Blue Ribbon Panel for a separate board.
We wanted you to have this press release as soon as it was sent, and we’ll have more resources available to you soon.
The AICPA works diligently to advocate on behalf of our profession and provide value to our members through continuing education, news and publications. You can learn more about news that impacts your career through the AICPA’s Business Brief series, the Journal of Accountancy, BusIndNews, AICPA News Update and CPA Letter Daily, as well as through our CPA Career Center.
Sincerely,
Carol Scott, CPA, MBA
Vice President - Business, Industry & Government
American Institute of Certified Public Accountants
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