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Advocate For A New Mini FASB

  • 1.  Advocate For A New Mini FASB

    Bronze Most Valuable Member
    Posted 07-21-2019 09:05
    In Massachusetts a good many of small practitioners are fed up with FASB’s constant barrage of new auditing standards. We’re starting a discussion on grass roots efforts to lobby our State societies (because AICPA doesn’t give a darn).

    This past week, Just got this email from AICPA. The new proposed standards on Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements from FASB is very comprehensive and is 261 pages long. Who has the time to review this? Are these new standards applicable to the small business / small non-profit?

    The link is:

    5 things you need to know about the new auditor reporting standards - AICPA Insights

    FASB just released new standards. Are these new standards not up to snuff? If now, why are we being forced to implement them?

    Thoughts / comments?

    Irene Wachsler, CPA
    Wachsler CPA LLC

    Irene Wachsler, Trusted Biz Advisor for small business & gig economy
    Mass & NY Film Tax Credits
    Wachsler CPA , LLC
    Cell: 781.883.3174