The Financial Accounting Foundation’s (FAF) Board of Trustees is conducting an overall assessment of the Private Company Council’s (PCC) efforts and effectiveness since its inception three years ago.

Established in collaboration with the Financial Accounting Standards Board (FASB), the PCC was designed to improve the process of setting accounting standards for private companies and also serve as the primary advisory body to the FASB. The assessment will help to determine whether the PCC is delivering on its mission and meeting its objectives, as well as identify areas for improvements.

For specific information regarding the areas FAF is seeking comments on or how to submit your comments, please read the FAF’s news release dated Feb. 26, 2015. If you have any additional questions, please contact Doeren Mayhew’s audit and assurance professionals in Michigan, Houston or Ft. Lauderdale.

Source: Financial Accounting Foundation