The Financial Accounting Foundation (FAF) and the Private Company Council (PCC) have released their annual reports summarizing their achievements, stakeholder outreach, and strategic goals.
The FAF annual report provides an overview of the organization’s activities throughout 2024. It also showcases how the FASB and GASB engage with multiple stakeholder groups to create and improve GAAP. Within the report, there are letters from the FAF, FASB, and GASB leaders, snapshots of how the team keeps stakeholder engagement at the core of all their activities, highlights the 2024 FASB and GASB standards and exposure drafts, and it includes a 2024 MD&A and audited financial statements.
Similarly, the PCC annual report includes a message from the PCC Chair, 2024 highlights and key progress areas, a section on prior accomplishments, a look at the strategy going forward, and also a section on stakeholder engagement.