Financial Accounting Standards Advisory Council (FASAC)
The primary function of FASAC is to advise the FASB on technical issues on the Board’s agenda, possible new agenda items, project priorities, procedural matters that may require the attention of the FASB, and other matters as may be requested by the FASB or its chairman. At present, the ×Council has more than 30 members who represent a broad cross section of the FASB’s constituency.