Media Advisory 03/11/20

Financial Accounting Foundation Announces Three New Members of the Governmental Accounting Standards Advisory Council (GASAC)


Norwalk, CT—March 11, 2020—The Board of Trustees of the Financial Accounting Foundation (FAF) announced today the appointment of Ricky Hatch, Kevin Smith, and Karen Wiesman to the Governmental Accounting Standards Advisory Council (GASAC).

The GASAC advises the Governmental Accounting Standards Board (GASB) on strategic and technical issues, project priorities, and other matters that affect standard- setting. The GASAC provides the GASB with diverse perspectives from individuals with varied governmental, professional, and occupational backgrounds.

The new GASAC members will serve a partial two-year term through December 31, 2021, and are eligible to be reappointed for up to two consecutive two-year terms. They are:
  • Ricky Hatch, County Clerk and Auditor, Weber County, Utah
  • Kevin Smith, Managing Partner, Crowe, LLP, Public Sector Practice
  • Karen Wiesman, (retired) Associate Superintendent—Business and Finance, Mansfield Independent School District, Mansfield, Texas.
For a complete list of current Council members, visit the GASAC webpage.


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.
 
About the Governmental Accounting Standards Board

Established in 1984, the GASB is the independent, private-sector organization based in Norwalk, Connecticut, that establishes accounting and financial reporting standards for U.S. state and local governments that follow Generally Accepted Accounting Principles (GAAP). These standards are recognized as authoritative by state and local governments, state Boards of Accountancy, and the American Institute of CPAs (AICPA). The GASB develops and issues accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to taxpayers, public officials, investors, and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the GASB. For more information, visit www.gasb.org.