FASB Staff Proposes Improvements Related to GAAP Taxonomy Reference Project

The FASB staff has released Proposed Improvements for the 2027 GAAP Financial Reporting Taxonomy Reference Project. The release notes for the proposed improvements “describe the proposed improvements to the 2026 GRT that were made to help locate the appropriate element and understand the role type assigned to the reference.” The enhancements “are designed to reduce inconsistencies in application and enhance the intended use of the elements.”

Comments on the proposal are due by November 2, 2026.