A US ‘blue ribbon’ panel that is investigating
private company financial reporting is seeking written input from
stakeholders.
The American Institute of Certified Public
Accountants, Financial Accounting Foundation and National
Association of the State Boards of Accountancy announced plans to
form the blue ribbon panel in December last year.
It is investigating how accounting standards
can best meet the needs of users of private company financial
statements.
The panel is asking those interested in the
project to provide information about issues or concerns regarding
current US GAAP as it applies to private company financial
statements.
The panel is also seeking suggestions about
short-term or long-term actions that could address these
concerns.
The deadline for responses is 15
September.
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