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An important part of the FASB’s mission of developing high-quality standards is monitoring implementation. The FASB accomplishes this by assisting preparers and other practitioners in their understanding and ability to consistently apply new standards.

As part of positioning organizations for a successful and smooth transition to new standards, the FASB undertakes a variety of initiatives focused on:
  • Educating our stakeholders
  • Helping preparers and practitioners interpret the standards, and
  • Making any necessary clarifications to the standards to address unintended consequences, if any.
Learn how the FASB conducts outreach with stakeholders, establishes and operates transition resource groups, and offers a technical inquiry service for implementation questions.

Also access implementation guidance for major standards.

How the FASB positions organizations for a successful and
smooth transition to new standards.


Stakeholder outreach is a key component of the standard-setting process, especially after a standard is issued. Proactive outreach helps the FASB educate stakeholders about the standard. It also helps the FASB better understand what implementation-related questions are out there—especially those that are reoccurring. Lastly, proactive outreach helps the FASB learn about implementation concerns firsthand so we can address them efficiently.

Types of Board and FASB staff outreach include:
  • Meeting individually with preparers, auditors, and regulators
  • Addressing preparer organizations in affected industries through small group meetings
  • Issuing “Plain-English” educational materials such as videos, articles, and fact sheets
  • Discussing implementation progress with FASB’s advisory groups
  • Presenting at conferences to explain the new standard
  • Participating in CPE provider training sessions to train them on how to educate their stakeholders about the standard (we call this “training the trainer”), and
  • Conducting our own CPE webcasts aimed at preparer and auditor audiences.


Forming a Transition Resource Group (TRG) early helps the FASB:
  • Avoid having to make revisions to the standard after it is issued
  • Reduce diversity in practice, and
  • Proactively address preliminary cost-benefit concerns.
Additionally, a TRG provides stakeholders with a forum to learn about a new standard from others tasked with implementing it, such as financial statement preparers, auditors, users, and regulators.

Finally, a TRG enables stakeholders to submit potential implementation issues for public discussion—and enable the group to address issues that likely will be faced by many other practitioners.

TRGs are not established for all standards, they are most useful for comprehensive standards that have significant and broad changes.


Comment letters and other stakeholder communications are critical to the FASB’s ability to come up with the best standard-setting solutions. They also are important to helping the FASB root out implementation issues that arise after a standard is issued.

The FASB’s Technical Inquiry service makes it easy for stakeholders to submit questions. In addition to addressing individual concerns, this service helps the FASB identify reoccurring questions, themes, and issues that may need to be addressed more broadly. The service also helps stakeholders obtain input on applying standards to their specific circumstances.


As part of our extensive stakeholder outreach, FASB members and staff deliver numerous speeches and presentations at conferences and other events throughout the United States. These speaking engagements provide audiences with updates on key FASB standards and implementation activities, while providing Board and staff members the chance to hear and respond directly to audience member questions and issues.

The FASB Speaker Request Portal guides stakeholders, step by step, through the process of requesting FASB speakers—including an overview our Terms and Conditions and other criteria for the acceptance of FASB speaking invitations. While the FASB is unable to accept every invitation received, we accommodate as many requests that meet our criteria as possible.

Access the FASB Speaker Request Portal here .