There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (05/20/2014)

Federal Financial Statement Transparency Act of 2014 - Establishes in the executive branch an independent Federal Accounting Standards Advisory Board (FASAB) to develop federal financial accounting concepts or standards, giving consideration to the budgetary information needs of executive agencies and the needs of users of federal financial information.

Directs the Secretary of the Treasury to establish a FASAB operations fund to enable the FASAB to carry out its duties.

Requires the Secretary to assess a fee on each sale of a security for deposit into the fund.