Tag Archives: FASB

Gaylen Hansen Issues Statement to SEC During IFRS Roundtable

Washington, D.C., July 7, 2011 – NASBA Director-at-Large, Gaylen Hansen, recently served as a panelist for the U.S. Securities and Exchange Commission’s (SEC) Roundtable on International Financial Reporting Standards in the United States. An excerpt from Mr. Hansen’s statement is posted below. “…There are extremely high risks in the ‘condorsement’ approach suggested by the [SEC]…

Response to Hearing of the House Services Subcommittee on Capital Markets 4/1/09

April 1, 2009 NASBA responds to the March 12 hearing of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government-Sponsored Entities and the specific bipartisan sentiments on fair value accounting expressed by members of the House of Representatives. NASBA believes the public interest is better served through a time-tested process which purports to…

2008 Annual Meeting, Leslie F. Seidman, The Case for Global Accounting Standards

October 28, 2008 International Convergence: Why? A single set of high-quality accounting standards is key to a global reporting system The rest of the world has spoken (not U.S. GAAP) Facilitates world-wide investment Reduces the cost of capital Reduces operational costs See Full Presentation:Global Accounting Standards Report

Letter of Comment to SEC from NASBA 11/13/07

November 13, 2007 NASBA comments to the SEC on the “Concept Release on Allowing U.S. Issuers to Prepare Financial Statements in Accordance with International Financial Reporting Standards.” This process allows the best and most desirable characteristics of both accounting systems to be incorporated into a single set of converged accounting principles. Convergence will facilitate the…

Letter from NASBA to FASB 1/24/06

January 24, 2006 At the last annual meeting of the National Association of State Boards of Accountancy (NASBA), a panel discussed the subject of who should be the standard setter for private company generally accepted accounting principles. One of the panelists was Edward Trott, a member of the Financial Accounting Standards Board (FASB). The panel…