CUNA Regulatory Comment Call


March 19, 2002

Proposed Changes to Streamline the Financial Accounting Standards Board

EXECUTIVE SUMMARY

QUESTIONS ON THE PROPOSAL

  1. Do you think that that having fewer members on the FASB Board would be beneficial because deliberations would be more efficient (less arguing)? Or do you believe a smaller Board would be less beneficial because there would be less diversity of views?























  2. Do you agree with the suggested composition of the new Board? (There would be no representative from the academic community.)

    Yes_____ No_____

    Why or why not?























  3. Do you favor the proposal to do away with supermajority voting?

    Yes_____ No_____

    Why or why not?























  4. Do you believe the proposed shorter comment period of 60 days allows for sufficient time to become aware of the Board’s rulemaking, absorb the potential impact of a proposed standard, and respond appropriately?

    Yes_____ No_____

    Please explain.























  5. Do you have any other suggestions for streamlining FASB’s structure or rulemaking processes?

    Yes_____ No_____

    If so, what are they?























  6. Do you have any other comments on how the current accounting/auditing rulemaking and oversight regime could be modified to better address the concerns of credit unions?

    Yes_____ No_____

    If so, what are they?























Eric Richard • General Counsel • (202) 508-6742 • erichard@cuna.com
Mary Mitchell Dunn • SVP & Associate General Counsel • (202) 508-6736 • mdunn@cuna.com
Jeffrey Bloch • Assistant General Counsel • (202) 508-6732 • jbloch@cuna.com
Catherine Orr • Senior Regulatory Counsel • (202) 508-6743 • corr@cuna.com