Here’s some new help in keeping your company’s financial reports clean as a whistle.

FASB has just released a statement (No. 162) on “The Hierarchy of Generally Accepted Accounting Principles.”

What’s really new about this statement is that it’s directed at companies — not your auditors.

The new statement will take effect 60 days after a related amendment is approved by the SEC. You can check the current status here. To read the complete statement, click here and scroll down to Statement 162.

Tags: FASB, GAAP, Internal controls