The Jenkins Committee ( named after the chairman ) , a group formed by the AICPA in 1991 to address concerns over the relevance and usefulness of financial reporting , recommended in its 1994 report that standard setters develop a comprehensive reporting model that includes both financial information ( financial statements and related disclosures ) and nonfinancial information ( such as high-level operating data and performance measures used by management , management 's analysis of changes in financial and nonfinancial data , and forward-looking information about opportunities , risks , and management 's plans ) .
The Jenkins Committee was formed in 1991 by the AICPA to address financial reporting concerns .