The SEC’s Chief Accountant Paul Munter, released a statement “Accounting Standard Setting in a Rapidly Evolving Business Environment: A Focus on the Timely Delivery of Investor.
<h2><span>Introduction</span></h2>
<p>One year ago, we issued a statement stressing the importance of the Financial Accounting Foundation (“FAF”) and Financial Accounting Standards Board’s (“FASB”) efforts to improve accounting standards and the standard-setting process, including the vital investor outreach performed through the FASB’s 2021 Agenda Consultation. Since then, the FASB’s technical and research agendas were reprioritized, largely to focus on investor and other stakeholder priorities identified through the agenda consultation process. Recently, the FASB has made progress on many reprioritized projects, such as disaggregation of income statement expenses; accounting for and disclosure of crypto assets; improvements, including further disaggregation, to income tax disclosures; and segment reporting. Completion of these and other reprioritized
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