click here to go to fasb.org click here to go to gasb.org
Private Company Council

Private Company Council (PCC)

PCC News

  • Press Release—FASB Exposes Private Company Decision-Making Framework for Public Comment (April 15, 2013)
     
  • Press Release—Private Company Council Adds Three Projects to Its Agenda, Votes to Seek More Input on Private Company Decision-Making Framework (February 12, 2013)

  • Media Advisory—Private Company Council Holds Second Meeting on February 12 (February 6, 2013)
     
  • Media Advisory—Report on First PCC Meeting to Be Featured in December 13 Webcast, IN FOCUS: FASB Update for Nonpublic Entities (December 11, 2012)
     
  • Press Release—Private Company Council Holds Inaugural Meeting, Identifies Four Areas for Study (December 6, 2012)

  • Press Release—Newly Created Private Company Council to Hold Inaugural Public Meeting on December 6 (October 18, 2012)
     
  • Press Release—Financial Accounting Foundation Appoints Members To Newly Created Private Company Council (September 19, 2012)
     
  • Press Release—Financial Accounting Foundation Issues Request for Nominations for New Private Company Council (June 1, 2012) 


PCC Meeting Information

Next PCC Meeting - Tuesday, May 7, 2013 (Norwalk)

Tuesday, February 12, 2013 Meeting Materials

Thursday, December 6, 2012 Meeting Materials


About the PCC

Financial Accounting Foundation Board of Trustees Establishes Private Company Council (PCC)
On Wednesday, May 23, 2012, the Financial Accounting Foundation’s Board of Trustees approved the establishment of the Private Company Council (PCC), a new body to improve the process of setting accounting standards for private companies. The final plan was issued on Tuesday, May 30, 2012.

  • Read the Final Report—Financial Accounting Foundation Board of Trustees Establishment of the Private Company Council (May 30, 2012)

Members of the FAF Board of Trustees Private Company Review Committee (December 11, 2012):


Press Release—Financial Accounting Foundation Establishes New Council to Improve Standard Setting for Private Companies (May 23, 2012)


Background in Establishing the PCC

  • Read the Plan to Establish the Private Company Standards Improvement Council (October 4, 2011
     
  • Read the Executive Summary of Plan to Establish the Private Company Standards Improvement Council 
     
  • Read the Press Release—Financial Accounting Foundation Seeks Comments on Plan to Improve Standard Setting for Private Companies (October 4, 2011)
     
  • “From the President’s Desk”—October 2011  
     
  • Download Podcast—Interview with FAF President and CEO Terri Polley, featuring opening remarks from Jack Brennan, Chairman of the Board of the FAF Trustees
     
  • Read the Summary of Comment Letters 
     
  • Comment Letters*received on Plan to Establish the Private Company Standards Improvement Council

    *The FAF has received a large volume of identical or near identical letters from individual stakeholders. We have posted a sample of these letters as the first document (Letter No. 0) in our list of Comment Letters. We have also placed a link on that sample letter that will enable stakeholders to view each and every one of the identical or near identical letters. We hope this format provides efficient navigation for our stakeholders who desire to view the various comments we receive on the Plan to Establish the Private Company Standards Improvement Council.
     

Roundtables

January 18, 2012—Atlanta, GA

  • Download Meeting Audio
  • Meeting Summary 

 January 26, 2012—Fort Worth, TX

  • Download Meeting Audio
  • Meeting Summary 

February 7, 2012—Palo Alto, CA (Stanford)
  • Download Meeting Audio
  • Meeting Summary 

March 1, 2012—Boston, MA

  • Download Meeting Audio
  • Meeting Summary