After its board meeting earlier this month, the FASB decided not to require management to assess whether an entity has the ability to continue as a going concern. “A majority of Board members observed that such a requirement would be difficult to apply,” says a recent new FASB release, “and that users of financial statements would benefit to a greater extent from ongoing disclosures about risks and uncertainties.” As a next step in this project, the board directed the staff to develop “a principle for an entity to assess the adequacy of its disclosures about risks and uncertainties and to evaluate how the content of such disclosures could be improved.”