Obtaining Input through a Note Disclosure Survey

Federal Accounting Standards Advisory Board

Welcome to our survey! The Federal Accounting Standards Advisory Board (FASAB or "the Board") is seeking your input regarding steps in its note disclosure projects. Note disclosures are an integral part of financial statements and users rely on them to understand the financial statements and reach conclusions about the operating performance and stewardship of government resources. FASAB develops financial accounting standards for the federal government and the primary objective of the Board’s note disclosure project is to review and streamline the financial reporting note disclosures in an effort to improve relevance and effectiveness of the financial reporting.

The note disclosure project plan is available in the Board's annual report. Members would like to hear from stakeholders regarding needed improvements in note disclosures and how FASAB might support needed improvements.

The objective of this consultation is therefore to:

• solicit ideas for improving note disclosures, and
• identify areas where FASAB’s guidance could aid in streamlining the reporting of note disclosures in financial reports.

Your feedback as a current or potential preparer, auditor or user of federal financial reports will assist the Board in approaching this project in the best way possible.

Please contact FASAB's Grace Wu for questions or the opportunity to be a volunteer in the note disclosure working group.

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