FASB Seeks Nominations for its Small Business Advisory Committee
The FASB is currently seeking nominations for individuals who would be interested in serving on the SBAC and who have relevant background in and experience with:
- Preparing or auditing financial statements of small public businesses in various subsectors (such as technology, pharmaceutical, and others) or
- Using a company’s financial statements in making various capital decisions (such as investing, extending credit, or other decisions).
The ideal candidates will be individuals who demonstrate (a) a keen interest in and knowledge of financial accounting and reporting matters, (b) experience working within the small business sector, (c) a commitment to improving financial reporting for users of financial statements, and (d) the ability to provide input on a wide variety of financial reporting matters. All recommendations received will be carefully reviewed and are subject to approval by the FASB Chair.
The SBAC will meet publicly once or twice a year in Norwalk, CT. SBAC members must be able to travel to, participate in, and prepare for the meetings held during the year. Membership on the SBAC is personal to appointed members, and members may not delegate their functions or their attendance at meetings to others. Members of the SBAC will be appointed for a one-year term and may be reappointed for three additional one-year terms. The FASB Chair may stagger membership tenure to establish an orderly rotation and maintain appropriate continuity on the SBAC. Read more on FASB.