According to the Wall Street Journal, Representative Luetkemeyer, a Republican from Missouri, introduced a bill on September 27 in Congress requiring the Financial Accounting Standards Board (FASB) to formally study the impact of new accounting standards before finalizing them.
- What Act does the bill seek to apply?
- What are the three major effects that the bill seeks to have investigated?
- What subcommittee does Mr. Luetkemeyer sit on?
- What will Mr. Luetkemeyer’s bill be called?
- What is the Financial Accounting Foundation (FAF) and the FASB’s position on this bill?
Maurer, M. (2019) Congressman Introduces Bill Requiring FASB to Study New Standards. The Wall Street Journal, Sep. 27 (Retrievable online at https://www.wsj.com/articles/congressman-introduces-bill-requiring-fasb-to-study-new-standards-11569624940)