FAF, FASB, and GASB release draft strategic plan
 

FAF, FASB, and GASB release draft strategic plan

The Financial Accounting Foundation (FAF), FASB, and GASB asked stakeholders to review and provide feedback on a new draft strategic plan that the organizations issued Thursday.

The draft outlines the organizations’ top four priorities, which include:

  • Practicing and promoting continued excellence in standard setting.
  • Demonstrating a commitment to leadership in standard setting.
  • Building and maintaining trust with stakeholders.
  • Contributing to the public discourse on current and future financial reporting issues.


The draft is “evolutionary,” according to Terri Polley, FAF’s president and CEO. “Those of you who have followed our work over the years will not find much that is unfamiliar or surprising,” she wrote. “But you will find some nuanced changes relating to aspects of how we carry out our mission.” Read more on the Journal of Accountancy.