FASB Chairman on the Future of Accounting Standards

The FASB is actively engaging with stakeholders to address key accounting issues, including digital assets and ESG transactions. The board is conducting research to improve accounting models and is focused on timely issues like crypto and climate risk. FASB's role in climate risk involves reflecting changes in business trends and customer preferences. The board maintains a close relationship with international accounting bodies and is working on various projects, including segment reporting and goodwill accounting. Stakeholder feedback is crucial in shaping FASB's agenda and future projects.

How does the Financial Accounting Standards Board ensure it considers all stakeholder views in its decision-making process?

What improvements are being considered for the accounting model related to goodwill?

What feedback did the Financial Accounting Standards Board receive regarding the accounting for troubled debt restructurings?

What challenges did the chairman face when starting his role during the pandemic?