Financial Accounting Foundation Appoints New Member to the Private Company CouncilNorwalk, CT, December 6, 2022—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of Katherine (Katina) Curtis to the Private Company Council (PCC) for a three-year term effective on January 1, 2023.
The PCC is the primary advisory body to the Financial Accounting Standards Board (FASB) on private company matters. Its members are comprised of financial statement users, preparers, and practitioners who advise the FASB on the 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 Generally Accepted Accounting Principles (GAAP) to address the needs of users of private company financial statements.
Ms. Curtis is an Audit partner at Grant Thornton LLP and serves as the firm’s Salt Lake City office managing partner. She has nearly 20 years of experience in public accounting, working with both public and private clients, including large, family-owned businesses and private equity portfolio companies in a variety of industries. Ms. Curtis graduated from Westminster College of Salt Lake City with a bachelor’s degree in accounting and received a master’s degree in professional accountancy from Brigham Young University. She is a Certified Public Accountant licensed in Utah, Arizona, and Wyoming and is a member of both the American Institute of Certified Public Accountants (AICPA) and the Utah Association of Certified Public Accountants.
“The FAF Board of Trustees is pleased to announce the appointment of Katina Curtis to the PCC,” said Kathleen L. Casey, chair of the FAF Board of Trustees. “She brings to this role deep experience working with private companies in a variety of industries, including private equity portfolio companies and large, multinational organizations.”
“Katina has a wealth of experience with private companies in a variety of industries,” added FASB Member and PCC Liaison Susan M. Cosper. “Her background and perspectives will enrich PCC discussions on how the FASB can continue to better serve the needs of private company financial statement users. We look forward to welcoming Katina to her new role.”
More information on the PCC can be found on its website.
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.