Editing Financial Accounting Standards Board (section)

=== AICPA's GAAP agreement ===
In November 2002, FASB Chairman Robert Herz announced that FASB and AICPA came to the agreement that the AICPA would no longer issue Statements of Positions (SOPs) that are considered authoritative GAAP.<ref name="Bryan-Low">{{cite news|last1=Bryan-Low|first1=Cassell|title=FASB Takes Back Powers In Accounting Rule Making|url=https://www.wsj.com/articles/SB1036450538489975348|access-date=24 April 2018|work=WSJ|date=5 November 2002}}</ref><ref name="Bragg">{{cite book|last1=Epstein|first1=Barry J.|last2=Nach|first2=Ralph|last3=Bragg|first3=Steven M.|title=Wiley GAAP codification enhanced|url=https://archive.org/details/wileygaapcodific00epst|url-access=limited|date=2009|publisher=John Wiley & Sons|location=Hoboken, NJ|isbn=978-0-470-49828-6|page=[https://archive.org/details/wileygaapcodific00epst/page/n33 16]}}</ref> They also concluded that consensus of the EITF will be required to be ratified by the FASB to become authoritative GAAP.<ref name="Bragg"/>