FASB asks for ideas to make GAAP taxonomy easier to use
As we mentioned last week, the FASB has issued an invitation to comment asking for input on ways to assess the efficiency and effectiveness of the US GAAP taxonomy.
FASB’s invitation to comment provides detailed background and technical questions focused on how to make the taxonomy easier for users to navigate and how to improve the process for updating the taxonomy. The board is looking for feedback by June 15 and is planning a public roundtable for July 18.
Here’s the “invitation to comment”.