Best Practices

Disclosure Effectiveness Deadlines Loom


by FEI Daily Staff

The Financial Accounting Standards Board (FASB) released two proposed Accounting Standards Updates (ASUs) as part of its efforts to improve the effectiveness of disclosures in the notes to financial statements.

With the comment period half-way over (ends December 8th), the FASB has received limited comments from stakeholders to date.

Now is the time to speak up.

The world of financial statement disclosures in changing and with so many preparers challenged by improving their financial communications, the lack of commentary thus far is surprising. Considering the concerns expressed in the past by many preparers, this is a clear opportunity for key stakeholders to have a voice and contribute to the process. Effective communication is critically important to users of financial information and the efforts being made by the FASB and other regulators are a clear signal that preparer input is necessary to ensure the needs of stakeholders are met.

For an exclusive members-only FEI Professional Accounting Update that takes a deeper dive into these important disclosure effectiveness issues please click on the banner below. FEI members can gain access to FEIconnect and read the full article while also continuing the discussion with FEI colleagues.

Financial Executives Research Foundation Efforts

Financial Executives Research Foundation (FERF), in an effort to answer questions around how preparers are addressing important disclosure effectiveness initiatives conducted a study, in conjunction with EY, to learn more about the journey

The full report is set to be released in early November and will available for free to all members. For a recent article in FEI Daily on the survey results click here.

Continue the Dialog at CFRI

FEI’s annual Current Financial Reporting Issues (CFRI) conference, taking place November 16th and 17th at the Marriott Marquis, NY, will seek to further the dialog and answer questions from stakeholders on the disclosure effectiveness process.