Paul Munter, acting chief accountant for the SEC's Office of the Chief Accountant, on Feb. 22, 2022, released a statement related to the Financial Accounting Standards Board's (FASB).
<h3><span>Introduction</span></h3>
<p><span>In June 2021, the Financial Accounting Standards Board (“FASB”) staff published an Invitation to Comment, <i>Agenda Consultation</i> (“ITC”), to solicit broad stakeholder feedback about the FASB’s standard-setting process and its future standard-setting agenda. In addition to feedback sought through the ITC, the development of the ITC itself involved significant outreach by the FASB staff and Board members to a cross-section of stakeholders, approximately one-third of whom were investors or other financial statement users.</span></p>
By Stephen Bouvier2021-04-07T13:48:00+01:00
The IFRS Foundation has launched its 2021 consultation on the shape of its future work programme, with one of the discussion points being a full-scale review of the International Accounting Standards Board’s pensions rule-book, International Accounting Standard 19, Employee Benefits (IAS 19).
Hans Hoogervorst, chairman of the International Accounting Standards Board said: “The Agenda Consultation provides an important opportunity to help shape the Board’s priorities and the future of financial reporting.”
He added that the board’s work programme over the next five years will focus in part on finalising its existing work agenda and carrying out post-implementation reviews of its financial instruments, revenue and leases accounting standards.