FASB Issued 2026 Investor Outreach Report

Welcome to the Genuine Learning Blog! Today, we’re focusing on the FASB’s recently issued 2026 Investor Outreach Report—a resource that provides insight into how the FASB gathers essential information from financial statement users. Understanding users’ needs is at the heart of FASB’s cost-benefit considerations, so their investor outreach efforts are a cornerstone of developing effective, decision-useful standards for non-governmental entities.

The 2026 report, signed by FASB Chair Richard Jones (with Hillary Salo set to become the next chair at the end of his term) and Technical Director Jackson Day, covers the FASB’s outreach activities for the year ended June 30th. Interesting to note, Hillary Salo previously held the role of Technical Director—a testament to her long-standing involvement in the standard-setting process.

The report reiterates FASB’s mission: to establish and improve standards of financial accounting and reporting that provide investors and other users with decision-useful information. But how does FASB determine what different stakeholders actually need? The answer lies in their robust, ongoing dialogue with a variety of user groups. This includes buy-side and sell-side investors, lenders, creditors, and private equity representatives. There’s specific recognition of the nonprofit sector as well—highlighted by Andrea Cantor’s participation on the NAC, bringing a banking perspective to nonprofit discussions.

FASB’s engagement is substantive. Over the past year, they tracked more than 375 investor interactions. The largest portion (48%) occurred via advisory groups, including the PCC, NAC, and EITF, ensuring that investors have a strong voice in those forums. Another 42% of outreach comes through direct interviews where FASB can ask in-depth questions. Comment letters and roundtables make up a smaller, but still meaningful, share of outreach activities.

Investor perspectives are present at all levels of FASB. Two board members, Dr. Joyce Joseph and Fred Cannon, bring direct investor backgrounds, helping infuse user insight into the standard-setting vote. Additionally, FASB employs two senior staff members as investor liaisons, leveraging their previous industry experience to maintain active lines of communication with users.

Central to FASB’s outreach is the Investor Advisory Committee (IAC), which is unique in comprising solely investors and serves as a platform for diverse voices, including analysts and directors from multiple market segments. The IAC meets regularly, as do other advisory groups like the NAC and PCC, providing structured opportunities to share feedback. The EITF, FASAC, NAC, PCC, and PMAC all include members with investor backgrounds thereby ensuring the standard-setting process benefits from a well-rounded set of perspectives that also includes preparers and auditors.

Ultimately, the Investor Outreach Report demonstrates FASB’s proactive commitment to understanding the needs of financial statement users. Through a combination of regular dialogue, specialized advisory groups, and board representation, they strive to develop standards that genuinely reflect user priorities. This transparent, inclusive approach ensures that improvements to financial reporting are firmly grounded in stakeholder feedback.

For those interested in a deeper dive, the complete FASB Investor Outreach Report is linked in the video’s information section. Thank you for joining me, and I look forward to seeing you on a future blog!