FASB seeks nominees for Small Biz Advisory Committee

The Financial Accounting Standards Board is looking for new members for its Small Business Advisory Committee.

The committee meets twice a year in Norwalk, Connecticut, and advises FASB on financial reporting issues that impact smaller public companies, providing feedback and input from their perspective, and helping the board decide whether accommodations made for private companies should be extended to other parts of the small-business community.

Prospective members would ideally come small public companies, private companies that plan to access the public markets, and cooperatives, and would have some experience with preparing or auditing financial statements in various subsectors, and in using financial statements in making capital decisions.

The terms for these members would run for one year beginning on Jan. 1, 2023. Those who want to nominate someone or apply themselves can use the SBAC online nomination form.

Nominations are due by Oct. 7, 2022.