The Financial Accounting Foundation (FAF), which oversees FASB and GASB, added an online forum on its website where people can raise concerns about the standard-setters not following due process.
“Soliciting stakeholder perspectives has always been a vital part of our governance model, just as it is to FASB’s and GASB’s standard-setting processes,” FAF trustee David Lillard, co-chair of FAF's Oversight Committee, said in a news release.
Earlier this year, FAF announced that it would begin livestreaming portions of Oversight Committee meetings to enhance confidence in the oversight of the FASB and GASB. Learn more.