Why Is the FASAB Named an "Advisory Board"? What Happens

question 53

Essay

Why is the FASAB named an "advisory board"? What happens if the GAO or the OMB rejects one of its standards?

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Definitions:

Critical Thinking

A systematic scrutiny and appraisal of a subject to develop an informed verdict.

Self-Regulated System-2

Refers to the conscious, reflective, and deliberative aspect of cognition controlling thoughts, emotions, and actions.

Anchoring with Adjustment

A cognitive bias where initial information serves as an anchor and subsequent decisions are adjusted around this anchor, though often not enough.

Expression

The process of making known one's thoughts or feelings through words, gestures, or artistic mediums.