Current Post-Implementation Review Projects

Standards Currently Under Review

Below are FASB and GASB standards currently under review by the FAF’s Post-Implementation Review team:

GASB Statement No. 49, Accounting and Financial Reporting for Pollution Remediation Obligations
Statement 49 establishes accounting and financial reporting standards for pollution remediation obligations (including contamination) which are obligations to address the current or potential detrimental effects of existing pollution by participating in pollution remediation activities.

Update and Next Steps: the FAF PIR team is conducting the initial research, including outreach with a variety of stakeholders (resource group members). The PIR team will consider whether additional research is needed after completing that outreach in March 2016.


Next FASB Standard

The next PIR of a FASB standard will not be conducted for a few years, as the PIR team has completed all the reviews of significant FASB standards that have been effective for at least two to three years.