The AICPA formed the Special Committee on Financial Reporting in 1991 to address those questions and concerns about the relevance and usefulness of business reporting. The Committee became known as the Jenkins Committee due to the Committee's Chairman (Edmund Jenkins). The Committee issued a report titled, Improving Business Reporting - A Customer Focus, which was developed based on extensive research of the needs of both users and preparers of business reports. The report presents the foundation of the users needs for better information and addresses the cost/benefit of providing additional information. The report recommends an enhanced business reporting model which, if implemented, would make future business reports more relevant and useful.
Improving Business Reporting - A Customer Focus