Agenda Setting at the FASB: Evidence from the Role of the FASAC

49 Pages Posted: 3 Dec 2014 Last revised: 22 May 2018

See all articles by Abigail M. Allen

Abigail M. Allen

Brigham Young University - Marriott School

Date Written: May 18, 2018


I examine the extent to which the FASB’s agenda determination is a function of the contemporaneous priorities expressed by its primary constituents: auditors, preparers, and financial statement users. Using the FASB’s consultation with the FASAC as a lens through which to view constituent priorities, I find evidence that from 1982 to 2001 influence on FASB agenda decisions is concentrated among “Big N” audit firms, whereas from 2002 to 2006 the priorities of financial constituents appear most significant. Across both periods, I find no evidence of significant preparer influence in agenda formation, which is in contrast to their documented role in later stages of standard setting. Collectively, the results contribute to our understanding of the influence of constituents in standard setting and highlight a shift in that influence over time.

Keywords: Standard Setting, FASB, Lobbying, Agenda Formation

JEL Classification: M41, M48

Suggested Citation

Allen, Abigail M., Agenda Setting at the FASB: Evidence from the Role of the FASAC (May 18, 2018). Harvard Business School Accounting & Management Unit Working Paper No. 15-042, Available at SSRN: or

Abigail M. Allen (Contact Author)

Brigham Young University - Marriott School ( email )

Provo, UT
United States

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