News Release 04/01/19

FAF Opens Nominations  for FASB and GASB Chair Positions


Norwalk, CT—April 1, 2019—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the search for new chairs of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).
 
Both the current FASB Chairman, Russell G. Golden, and the current GASB Chairman, David A. Vaudt, will conclude their terms on June 30, 2020. To find their successors, the FAF Board of Trustees Appointments Committee is commencing the search for candidates with varied backgrounds and experience from diverse talent pools.
 
Ideal candidates for the FASB and the GASB chair positions should possess these critical competencies for success in each role:
  • Commitment and passion for the Board’s mission. This includes an appreciation for the importance of independent standard setting for financial accounting and reporting, concern for the public interest, and an understanding of the varying interests and perspectives of users of financial information, preparers, and auditors of financial reports.
  • Strong knowledge and technical competency in financial accounting and reporting.  
  • Collaborative leadership and communication skills. An inspiring and pragmatic leader will command respect, instill confidence, and help lead organizational change in a consensus-driven organization. 
Candidates for both positions should also possess additional skills and experiences relevant to the unique roles. The FASB and GASB Chairs will each serve for a single seven-year term.

More information on the FASB Chair and GASB Chair positions, including applications, can be found here.
 
For more information on the FAF’s recruitment process, including a brief video about the FASB and GASB Chair searches, visit the FAF website.


About the Financial Accounting Foundation

Established in 1972, the Financial Accounting Foundation (FAF) is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). The FASB and GASB establish and improve financial accounting and reporting standards—known as Generally Accepted Accounting Principles, or GAAP—for public and private companies, not-for-profit organizations, and state and local governments in the United States. For more information, visit www.accountingfoundation.org.