Intangible Assets Task Force
FASAB Contact: Josh R. Williams, firstname.lastname@example.org, 202-512-4051
Task Force Objectives
The current task force objectives are to (1) identify existing intangible assets throughout federal reporting entities, (2) consider the benefits to users of federal financial reports from reporting such intangible assets, and (3) then consider if preparers can reasonably measure and recognize the identified intangible assets in the financial reports.
Task Force History:
February 17, 2021
At the first intangible asset task force meeting, staff established the initial task force objectives, discussed potential federal intangible assets, and presented a draft version of the task force survey. The survey objectives are to gather information about (1) intangible assets that exist throughout federal reporting entities and (2) potential benefits to recognizing such intangible assets in federal financial reports. After considering feedback from task force members, staff made further edits to the survey and issued the final version for task force members to complete by March 12, 2021.