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ARTICLE · 01 MAY 2013

On The Horizon - April 23, 2013

Grant Thornton LLP
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The Financial Accounting Foundation, which oversees the FASB, recently announced that current Board member Russ Golden will succeed Leslie Seidman as FASB Chairman.

United StatesAccounting and Audit
Grant Thornton'S Audit Practice Group
Grant Thornton'S Audit Practice Group
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FASB

FAF appoints new FASB chairman

The Financial Accounting Foundation (FAF), which oversees the FASB, recently announced that current Board member Russ Golden will succeed Leslie Seidman as FASB Chairman when Ms. Seidman's term expires on June 30.

Mr. Golden's initial term as Chairman will extend to June 30, 2017, at which time he will be eligible for an additional three-year appointment.

Board invites comments on Private Company Decision-Making Framework

The FASB and the Private Company Council recently issued an Invitation to Comment, Private Company Decision-Making Framework – A Guide for Evaluating Financial Accounting and Reporting for Private Companies, to gather feedback on how the Board and Council should determine if and under which circumstances to provide alternative financial reporting guidance for private companies reporting under U.S. GAAP.

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