The FAF’s Post-Implementation Review Process

The post-implementation review (PIR) process is designed to be independent of the standard-setting process of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

The PIR staff reports to the FAF Board of Trustees and the FAF President/CEO, but members are drawn from experienced FASB and GASB staff. The PIR process is a tool to help the Trustees with their ongoing efforts to evaluate the effectiveness of the standard-setting process for the FASB and the GASB.

Completed Reviews

FAF Review Team Concludes GASB Statements on Deposit and Investment Risks Achieve Their Purposes

• GASB Responds to Financial Accounting Foundation’s Post-Implementation Review of Deposit and Investment Risk Disclosure Standards—News Release (April 2013)
  
  • GASB Response to FAF PIR Report on GASB Statements 3 and 40
• GASB Statements 3 and 40 PIR Report (February 2013) 
   
• GASB Statements 3 and 40 Press Release (February 2013)

FAF Review Team Concludes FASB Statement 131 on Segment Reporting Generally Achieves Its Purpose

• FASB Response to FAF PIR Report on FAS 131—News Release (March 2013)
  • FASB Response to FAF PIR Report on FAS 131
• FAS 131 PIR Report (January 2013)
  
  
• FAS 131 Press Release (January 2013)

Post-Implementation Review of FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48)

• FASB Response to FAF PIR Report on FIN 48—News Release (March 2012)
   
• FASB Response to FAF PIR Report on FIN 48 (March 2012)
   
• FIN 48 Press Release (January 2012)
   
• FIN 48 PIR Report (January 2012)
   

The PIR Process

• November 2010 News Release Announcing the FAF’s Post-Implementation Review Process 
   
• “From the President’s Desk” June 2011    
   
• Description of PIR Process (January 2013)
   
• Frequently Asked Questions about FAF’s PIR Process (March 2012)
  
  

Standards Currently Under Review

News Release—FAF to Conduct Post-Implementation Review of FASB Standard on Accounting for Income Taxes (February 4, 2013)

Media Advisory—Reminder: FAF Seeks Survey Participants for Post-Implementation Review of GASB Statements No. 3 and No. 40 (August 20, 2012)

News Release—FAF Seeks Survey Participants for Post-Implementation Review of FASB Statement No. 141R (July 30, 2012)

News Release—FAF Seeks Survey Participants for Post-Implementation Review of FASB Statement No. 131 (May 18, 2012)

News Release—FAF Seeks Survey Participants For Post-Implementation Review of GASB Standards (March 5, 2012)

News Release—FAF to Conduct Post-Implementation Reviews on FASB and GASB Accounting Standards (February 15, 2012)

How You Can Participate in the PIR Process

Stakeholder input is critical to assessing if standards are effective in providing decision-useful information to users of financial statements. Stakeholder input should improve the ability of the standard-setting process to provide decision-useful information.

If you are interested in becoming a member of a vital research community and participating in the research aspect of post-implementation reviews (such as surveys on specific standards), please register here.
 

Contact Information

Post-Implementation Review Team:

Kim Petrone, Director

FASB Standards pirteam@faf-fasb.org
GASB Standards pirteam@faf-gasb.org