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Private Company Financial Reporting: Detente At The NAAATS Town Hall

 At the July 2012 National Advanced Accounting and Auditing Technical Symposium (NAAATS), then Financial Accounting Standards Board (FASB) chair Leslie Seidman spoke about the formation of the Private Company Council (PCC). Two years later, at the July 2014 NAAATS conference, three FASB members and three PCC members held a Town Hall presenting on a range of topics impacting private company financial reporting, which are discussed in further detail in this report.