Media Advisory 03/18/19
FAF Seeks Nominations for Key Leadership
and Advisory Positions
Norwalk, CT—March 18, 2019—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the search for new members of the FAF Board of Trustees, a new chair of the Financial Accounting Standards Advisory Council (FASAC), and new members of the Private Company Council (PCC).
The FAF Board of Trustees Appointments Committee recruits candidates with varied backgrounds and experience from diverse talent pools to ensure a balance of perspectives across all the Boards and Councils. Below are brief profiles for the available positions.
FAF Board of Trustees
The FAF Board of Trustees oversees and supports the FASB and the GASB as they carry out their missions. Diverse experience, backgrounds, and perspectives are important to overseeing and promoting the independent standard-setting process.
Ideal FAF Trustee candidates:
- Strongly appreciate the importance to the markets, the investment community, and the public at large of independent standard setting for financial accounting and reporting
- Possess an understanding of the U.S. and global financial and capital markets
- Are highly regarded within their professions.
The FASAC advises the FASB on issues related to projects on the FASB’s agenda, possible new agenda items, project priorities, procedural matters that may require the attention of the FASB, and other matters as requested by the FASB Chair.
Ideal FASAC chair candidates possess:
- Experience as a senior finance or accounting executive (such as a controller, chief accounting officer, chief financial officer, or a senior leader in the audit profession) with experience working and interacting with public or private company boards of directors
- Experience as a member of the board of directors of a public or private company, preferably with experience as a chair or member of the audit committee
- Visibility and experience with public forums, including experience chairing meetings, giving speeches, speaking with the media, and similar activities
- The ability to be independent and portray objective integrity, even if actively employed as a preparer, auditor, user, or other.
The PCC advises the FASB on the appropriate accounting treatment for private companies for items under active consideration on the FASB’s agenda. The PCC also advises the FASB on possible alternatives within GAAP to address the needs of users of private company financial statements.
Ideal PCC member candidates possess:
- Background and high level of experience in private company financial accounting and reporting
- History of interest and participation in financial reporting matters or standard setting activities
- Current technical understanding of financial accounting and reporting.
Nominations are due by April 19, 2019. For more information on the FAF’s recruitment process, visit the FAF website.