Public Comment Period for FAF Letters Closes January 14, 2012

The GSCPA encourages you to send a comment letter to the Financial Accounting Foundation (FAF) to help make financial reporting more relevant and less complex. CPAs are asked to respond to FAF’s Plan to Establish the Private Company Standards Reporting Council, released on October 4 for public comment, and express support for the Blue Ribbon Panel on Standard Setting for Private Companies’ recommendation that FAF create an independent board to set exceptions and modifications in U.S. GAAP for private companies. A two-step, easy-to-use AICPA online tool enables you to send a letter in just 30 seconds. Read the full story.