News Release 12/07/16


Norwalk, CT, December 7, 2016—The Financial Accounting Standards Board (FASB) will host a public roundtable meeting on its proposed improvements to accounting for long-duration contracts issued by insurance entities. Registration is now open for both participants and non-participating observers interested in attending the March 15th event.

The roundtable is an opportunity for those who have submitted a comment letter on the proposed Accounting Standards Update (ASU) to discuss their feedback with the FASB. The Board is seeking participation from financial statement users, preparers, auditors, and others. Those who wish to participate in the roundtable must submit a comment letter by December 15, 2016.

The roundtable will take place on Wednesday, March 15, 2017, at the FASB offices at 401 Merritt 7, Norwalk, CT 06856. The meeting will be audio webcast and archived on the FASB website for 30 days following the meeting.

The session is tentatively scheduled from 8:30 a.m. to 12:30 p.m. Eastern Daylight Time. Depending on stakeholder feedback, the session time may be adjusted, or the Board may convene a second roundtable in the afternoon.

Those interested in participating in the roundtable should register online by Thursday, December 15, 2016. Nonparticipating observers interested in attending the meeting in person should register in advance (seating is available on a first-come, first-served basis) by Wednesday, March 1, 2017.

About the Financial Accounting Standards Board

Established in 1973, the FASB is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit