The Mission of the Financial Accounting Standards Research Initiative (FASRI) is to help the Financial Accounting Standards Board (FASB) achieve its standard-setting mission by
- Raising awareness of standard setting issues that may be of interest to the research community;
- Working with researchers to facilitate the design and completion of research that can inform Board deliberations; and
- Facilitating communication between researchers and the FASB Board and Staff
As a byproduct of pursuing our mission, FASRI indirectly supports the educational mission of the FASB.
The primary activities of FASRI are the Blog, Round Table Discussions, Research Consultation, and Research Support
The FASRI blog provides regular updates on issues of interest to those engaged in research on standard setting. Come to our blog to find links to—and commentary on—recent research, news articles, FASB project activities, and other matters.
Round Table Discussions
Since October, 2008, FASRI has been conducting online meetings (roundtables). Over 100 research faculty and doctoral students have attended, many of whom attend regularly (with crowds averaging about 20-30). We use a variety of formats, including interviews, panel discussions, and informal conversations. Some sessions allow FASB Board and staff to update researchers on standard-setting activities; others allow researchers to present their work and receive feedback from standard setters and fellow academics; yet others allow academics to discuss standard setting research primarily with one another. All sessions are open to the public. While the bulk of our attendees are academic researchers, sessions typically include those from the user or preparer communities as well. Recently, we have begun streaming the Round Table Discussions onto the web to allow for even greater accessibility.
Researchers who have identified topics of possible interest to the FASB are encouraged to contact FASRI, who will attempt to identify FASB staff members who are likely to be most interested in the project. FASRI will work with the researchers and staff (or Board) members to determine how the research might best inform FASB deliberations. For research consultation, contact Jeffrey Doyle, FASB Research Fellow.
FASRI will provide various forms of support, when requested, for research of strong interest to the Board and Staff. Our most common form of support is to help researchers secure the cooperation of organizations that can provide data (in the form of human subjects or access to proprietary data). In some cases, we can provide funding for out-of-pocket research expenses. At this point, FASRI is only rarely able to provide stipends to researchers only in exceptional cases.
Requests for research support will be considered only after an initial research consultation, and must be approved by the FASRI oversight committee.
FASRI is funded by the Financial Accounting Foundation (FAF). According to the FASB website, the FAF “…was incorporated to operate exclusively for charitable, educational, scientific, and literary purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code, is responsible for selecting the members of the FASB and its advisory council, ensuring adequate funding of their activities and for exercising general oversight with the exception of the FASB’s resolution of technical issues.”
FASRI’s Director is Lynn Rees, FASB Research Fellow and Professor of Accounting at Texas A&M University. FASRI’s activities are overseen by a committee, consisting of the following FASB personnel:
- Tom Linsmeier, Board Member
- Ron W. Lott, Research Director
- James Leisenring, Senior Advisor
FASRI is always looking for help! Please let us know if you would like to:
- Write posts on our website
- Volunteer to speak at or host a Round Table Discussion (or volunteer others you would like to hear from)
- Help promote FASB to researchers
The Financial Accounting Standards Research Initiative is funded by the Financial Accounting Foundation,and is overseen by Staff and Board members of the Financial Accounting Standards Board. However, neither the contents of this website, nor any remarks made during FASRI Round Table Discussions, nor any research or other reports published by FASRI officers, nor any research or reports written after receipt of consultation or funding by FASRI, reflect official positions of the Financial Accounting Standards Board.
Official positions of the FASB are reached only after extensive due process and deliberation.