Private Company Council releases 2025 annual report

The Private Company Council today released its 2025 Annual Report.

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The report highlights the PCC’s accomplishments and activities from the year, describes its agenda priorities, addresses stakeholder engagement and discusses strategy moving forward. 

The PCC advises the Financial Accounting Standards Board, and represents the perspective of privately held companies. It was established by the FASB in 2012 and is led by chair Jere Shawver.

(Read more: “FASB’s Private Company Council aims to raise profile”)

The PCC released its first annual report last year in response to a 2024 report from the Financial Accounting Foundation on the effectiveness of the PCC, which found the role of the PCC had not been given much emphasis. 

“What I heard in my one-on-one conversations and what they learned in this bigger process is we had done a horrible job of telling people what the PCC had accomplished,” Shawver told Accounting Today in a previous interview.

“I want us to be creating a routine and a regimen that continues to have the PCC visible about what we’re doing,” Shawver continued. “We hold a lot of town halls, and we have conversations with industry user groups. Hearing what they think is such an important part of what we do. The PCC has been doing that for a decade. They’ve been meeting with these people. But I don’t think we took credit for the fact that we talked to them about what their issues are, we tried to understand what alternatives existed, if any, and then we responded. That’s the part I would like to make sure survives me — that we are in a position to take credit for the good work we’re doing.”