NEWS RELEASE 10/08/09

FASB to Host October 15 Webcast on The Investor: An Important Voice in Standard Setting

Norwalk, CT, October 8, 2009—The importance of investor input to the Financial Accounting Standards Board (FASB) in its mission to develop high-quality U.S. accounting and reporting standards is the focus of an upcoming FASB webcast. The Investor: An Important Voice in Standard Setting will be webcast on Thursday, October 15, 11 a.m. – noon EDT. The live webcast is offered free of charge to those who pre-register.

“Given the historic financial challenges facing the markets, and related financial reporting issues the FASB is addressing, it’s essential that investors take full advantage of our open standard-setting process,” said FASB Chairman Robert H. Herz. “This webcast will focus not only on why investor input is important and needed, but it will also explain how investors can get more involved in the process on an ongoing basis. We hope the webcast will help raise awareness about this vitally important part of the standard-setting process. ”

“There have been few times in history when financial reporting has been at such an important crossroad,” said Kurt Schacht, CFA, and managing director of the CFA Institute Centre for Financial Market Integrity. “If there was ever a moment for investors to weigh in on standard setting, it is now.”

FASB member Marc Siegel and FASB Senior Investor Liaisons Chandy Smith and Jeff Brickman will be the featured panelists during this discussion about the role of the investor in the standard-setting process. Hosted by Neal McGarity, director of communications for the Financial Accounting Foundation (FAF), the session will provide an overview of the kinds of investor input needed by the FASB; how the staff go about obtaining the input and how it is used during the Board’s decision-making process; ways investors can learn about and provide comment on FASB activities; and current FASB projects that are significant to investors. Webcast viewers will have the opportunity to email questions to panelists during the event.

The FASB will archive the live webcast on the FASB website for access by the public. Register for the live or archived webcast. CPE credit will not be offered for this webcast.
 

About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.