Request for public comment the on effectiveness of the Private Company Council

On February 29, the Financial Accounting Foundation (FAF) released a request for public comment as part of its effectiveness review of the Private Company Council (PCC).

The PCC is the primary advisory body to the FASB on private company matters. Among other questions, the FAF is soliciting stakeholder thoughts on the effectiveness of the PCC in (1) proposing alternatives within GAAP to aid the users of private company financial statements, and (2) providing private company perspectives to the FASB. Comments are due by May 31.
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