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The Federal Accounting Standards Advisory Board (FASAB) serves the public interest by improving federal financial reporting through issuing generally accepted accounting principles and providing guidance after considering the needs of external and internal users of federal financial information. Federal financial reports are essential for public accountability and for an efficient and effective functioning of our democratic system of government. In this session, we will present a general update on FASAB projects, recently issued guidance, and stakeholder engagements.
Learning Objectives:
Identify and discuss the status of all FASAB research topics, active projects, and proposed guidance.
Identify and discuss recently issued FASAB guidance.
Identify and discuss the ways that FASAB engages with stakeholders for developing guidance and outreach efforts.
