Accounting Chief Fends Off Critics, Talks Up Rules for Investors

It was the year’s biggest conference for accountants and auditors. Instead of a wonky rundown of new standards, the head Financial Accounting Standards Board stressed the board’s commitment to the end users of its rules—the investors who read corporate financial statements.

Investors want more details and more transparency from companies in financial statements, and FASB wants to deliver, board Chair Richard Jones told the American Institute of CPAs signature conference in Washington earlier this month. He rattled off a long list of projects that FASB is fast-tracking so investors and analysts can get better information about company expenses, ...