After the Financial Accounting Standards Board (FASB) proposed new nonprofit screening standards last September, FASB’s board voted in late January to "reorganize its agenda to focus more closely on the issues most important to FASB stakeholders,” according to a news release issued by FASB website.
After FASB’s board members, advisory group members and other interested stakeholders completed a survey last year, they determined areas of strategic priority for the organization. As a result, “Not-for-Profit Financial Reporting: Other Financial Communications” was one of six items removed from the FASB's agenda. According to FASB Chairman Russ Golden, the decisions "will allow us to direct our resources to financial reporting issues our stakeholders believe are the most important.”
The survey along with complete results can be found on the FASB website.