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State Board Report

March 2013

Decisions about the Financial Accounting Standards Board’s or Governmental Accounting Standards Board’s agenda setting, project planning and prioritizing of projects will no longer be given final approval by the FASB or GASB chairman, but by a majority vote of the respective board’s members during a public meeting. The policy change was made at the Financial Accounting Foundation’s Board of Trustees’ meeting on February 26, 2013, at the suggestion of FASB Chair Leslie Seidman and GASB Chair Robert Attmore.

FAF President and CEO Teresa S. Polley commented that the new procedure “will provide stakeholders with greater insight into the considerations that go into agenda decisions.”

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