E9-25998. Codification of Accounting and Financial Reporting Standards Contained in the AICPA Statements on Auditing Standards

AGENCY:

Federal Accounting Standards Advisory Board.

ACTION:

Notice.

Board Action: Pursuant to 31 U.S.C. 3511(d), the Federal Advisory Committee Act (Pub. L. 92-463), as amended, and the FASAB Rules of Procedure, as amended in April, 2004, notice is hereby given that the Federal Accounting Standards Advisory Board (FASAB) has released the Exposure Draft on Subsequent Events: Codification of Accounting and Financial Reporting Standards Contained in the AICPA Statements on Auditing Standards.

The American Institute of Certified Public Accountants' (AICPA) Statements on Auditing Standards (SAS) AU section 560, Subsequent Events, includes accounting and financial reporting guidance that is not discussed in the authoritative literature that establishes accounting principles. The objective of the proposed Statement is to incorporate that guidance into the authoritative literature of the FASAB.

The Exposure Draft is available on the FASAB home page http://www.fasab.gov/​exposure.html. Copies can be obtained by contacting FASAB at [phone].

Respondents are encouraged to comment on any part of the exposure draft. Written comments are requested by December 28, 2009, and should be sent to: Wendy M. Payne, Executive Director, Federal Accounting Standards Advisory Board, 441 G Street, NW., Suite 6814, Mail Stop 6K17V, Washington, DC 20548.

FOR FURTHER INFORMATION CONTACT:

Wendy Payne, Executive Director, at [phone].

Authority: Federal Advisory Committee Act, Pub. L. 92-463.

Dated: October 23, 2009.

Charles Jackson,

Federal Register Liaison Officer.