A panel created by the AICPA and the Financial Accounting Foundation with support from the National Association of State Boards of Accountancy will explore questions about the future of standard setting for U.S. private companies. Recommendations from the panel are likely to come in 2010. AICPA President and CEO Barry Melancon, CPA, sees potential for significant action resulting from the group's work. "There has never been an effort at this level to address this issue," Melancon said.

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