SIA Submits Comments to the FAF on FASB Structure and Operations
Published on:
April 16, 2002
The Securities Industry Association (SIA)* provides comments to the Financial Accounting Foundation (FAF) on the FAF’s Board of Trustees set of proposed changes to the structure and operations of the Financial Accounting Standards Board (FASB). SIA believes the set of proposals including:
- reducing the size of FASB from 7 to 5 members;
- requiring only a simple majority to approve standards; and
- shortening comment periods;
do not go to the heart of the problem.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.