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Are Private Company Standards Important? Weigh In
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March 26, 2024
The Financial Accounting Foundation is
conducting an assessment of the Private Company Council (PCC), which has been in
operation since 2012, to ensure it is still meeting the needs of private company
stakeholders. They have issued a request for comments on the following topics:
- Has the PCC been effective as the primary advisory body to the Financial Accounting Standards Board (FASB) on
private company issues and concerns?
- Has the PCC been successful in considering the needs of private
company stakeholders when making recommendations to the FASB on
alternatives within Generally Accepted Accounting Principles (GAAP)?
- What organizational or procedural improvements to the PCC are needed?
If you believe that private company standards are important to small businesses, submit your comments by May 31: