NEWS RELEASE 12/05/22
Financial Accounting Foundation Appoints Nine New Members to the Financial Accounting Standards Advisory CouncilNorwalk, CT, December 5, 2022—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of nine new members to the Financial Accounting Standards Advisory Council (FASAC).
The FASAC advises the Financial Accounting Standards Board (FASB) on strategic and technical issues, project priorities, and other matters that affect standard setting. The FASAC provides the FASB with diverse perspectives from individuals with varied business and professional backgrounds.
“The nine new members appointed to the FASAC will ensure the group continues to provide robust, diverse input to the FASB,” said Kathleen L. Casey, chair of the FAF Board of Trustees. “The Trustees and FASB look forward to welcoming them in 2023.”
The new FASAC members will serve a one-year term that begins on January 1, 2023, and may be reappointed for additional terms. The new appointees are:
- Thomas Barbieri, Chief Accountant, National Office, PwC LLP
- DeAnn L. Brunts, Member/Audit Committee Chair, B&G Foods, Benson Hill, Claire’s
- Vasundhara Govil, Managing Director, Keefe, Bruyette & Woods (KBW)
- Shripad Joshi, Senior Director – Accounting Officer, S&P Global Ratings
- Jeffrey Karbowski, Vice President and Chief Accounting Officer, PayPal Holdings, Inc.
- Monica Loseman, Partner, Gibson, Dunn & Crutcher
- Daniel Murdock, Executive Vice President, Chief Accounting Officer and Controller, Comcast Corporation
- Stephen Rivera, Vice President, Global Technical Accounting Advisory Services and Policy, Johnson & Johnson
- Yan Zhang, Partner, Audit & Assurance, EisnerAmper LLP.
“As we prepare to welcome new FASAC members in 2023, I want to recognize the nine individuals who will complete their terms at the end of 2022,” said FASAC Chair Michael Morrow. “The outgoing FASAC members served with distinction, and we thank them for contributing their diverse views, experiences, and perspectives to group discussions as part of the FASB’s standard-setting process.”
For the full listing of FASAC members, visit the FASAC webpage.
About the Financial Accounting Standards Board (FASB)
Established in 1973, the FASB is the independent, private-sector organization, based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the U.S. Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit www.fasb.org.
About the Financial Accounting Foundation
Established in 1972, the Financial Accounting Foundation (FAF) is an independent, private-sector, not-for-profit organization based in Norwalk, Connecticut. Its Board of Trustees is 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 (collectively, “the Boards”) 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. Both Boards set high-quality standards through a process that is robust, comprehensive, and inclusive. The FASB is responsible for standards for public and private companies and not-for-profit organizations, whereas the GASB is responsible for standards for state and local governments.
The Foundation’s Board of Trustees comprises 14–18 members from varied backgrounds—users, preparers, and auditors of financial reports; state and local government officials; academics; and regulators. The Trustees direct the effective, efficient, and appropriate stewardship of the FASB and GASB in carrying out their complementary missions, select and appoint FASB and GASB members and their advisory councils, oversee the Boards’ activities and due process, and promote and protect the independence of the Boards. For more information, visit www.accountingfoundation.org.