On Tuesday, the Financial Accounting Foundation approved all of its recent proposals for governance changes to FASB, FAF and the Government Accounting Standards Board during a closed meeting in New York. The details are due to be released shortly according to CFO.com.
The recommendations, according to the foundation's request for comments, are "designed to better position the FAF and the standard-setting boards to become even more effective and efficient in a changing environment."
However, according to the more than 50 comment letters submitted to the FAF, the market doesn't think much of the proposals nor of the haste in which the foundation appears to be considering them. - Donna Block
See story from CFO.com
