Small Business Financial and Regulatory Affairs Committee

IMA’s Small Business Financial and Regulatory Affairs Committee (SBC) will act on behalf of the Institute by addressing issues and developing suggested solutions that impact small and medium sized entities. SBC will proactively discuss relevant issues to standard-setters and regulatory agencies such as the Financial Accounting Standards Board, Securities and Exchange Commission, International Accounting Standards Board, Small Business Administration, American Banking Association, Internal Revenue Service and others.

Comment Letters and Related Documents

FASB Exposure Draft: The Hierarchy of Generally Accepted Accounting Principles, a replacement of FASB Statement No. 162, May 2009

SEC Proposal: Roadmap for the Potential Use of Financial Statements Prepared In Accordance with International Financial Reporting Standards by U.S. Issuers, April 2009.

FASB/IASB Discussion Paper: Preliminary Views on Financial Statement Presentation, April 2009