What groups consistently offer opinions about proposed FASB statements?
To determine the groups that consistently offer opinions about proposed Financial Accounting Standards Board (FASB) statements, you can follow these steps:
1. Visit the official website of the FASB at https://www.fasb.org/.
2. Look for the "Due Process" or "Standard-Setting Process" section on the website. This section provides information about the FASB's procedures for developing and issuing Accounting Standards Updates (ASUs).
3. Within the due process section, locate the details on the Exposure Draft (ED) stage. This is the phase where the FASB publishes proposed statements for public comment and feedback.
4. Review the information provided on the ED stage to identify the various stakeholders invited to offer opinions and comments on the proposed statements. These stakeholders often include:
- Public accounting firms (including the Big 4 accounting firms like PwC, Deloitte, EY, and KPMG).
- Industry trade associations and professional organizations, such as the American Institute of Certified Public Accountants (AICPA) and the Institute of Management Accountants (IMA).
- Financial institutions, including banks and credit unions.
- Investor and shareholder associations.
- Corporate finance departments and professionals.
- Government organizations, such as the Securities and Exchange Commission (SEC) and the Governmental Accounting Standards Board (GASB).
- Academia and accounting educators.
Note that the list of stakeholders may vary depending on the specific proposed statement and its potential impact on different industries or areas of accounting. The FASB aims to gather diverse perspectives from those who will be affected by the standards.
By following these steps and exploring the FASB's due process documentation, you will be able to identify the groups and organizations that consistently offer opinions about proposed FASB statements.