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US Accounting Panel Seeking Nominees for Trustee Board. Join us!

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TLDR:

  • The Financial Accounting Foundation, which oversees the work of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB), is seeking nominations for its board of trustees.
  • The foundation is looking for nominees with experience in specific areas, including executive or research director roles in institutions, private company executives, state and local government finance officers, and auditing professionals.

The parent organization of the FASB and GASB, the Financial Accounting Foundation, is seeking nominations for its board of trustees. The board of trustees plays a crucial role in overseeing the work of both accounting standards-setting bodies, ensuring their independence and promoting transparency in financial reporting.

The foundation’s board of trustees has traditionally included industry heavyweights, such as C-suite executives at US companies, top partners at global accounting firms, state finance officers, and former Securities and Exchange Commission members. The current call for nominations aims to bring in new individuals with diverse expertise and perspectives.

The foundation is specifically seeking nominees with experience in the following areas:

  1. A top executive or research director for an institutional investor, financial analyst organization, or similar entity;
  2. A top executive or director of research for a company that is not a public company;
  3. A state or local government finance officer, or someone with experience in municipal finance;
  4. An auditing professional who is a partner in a public accounting firm or who heads an internal audit function at a large organization;
  5. Preparers of financial statements from private companies or small public companies;
  6. Users of financial statements, such as financial analysts or representatives of users of nonprofit financial statements;
  7. An individual with experience in the area of sustainability reporting or environmental, social, and governance issues;
  8. A representative of a labor organization;
  9. A representative of the academic community who has an emphasis in accounting, finance, or economics; or
  10. A representative of a national or international organization involved in setting financial accounting or reporting standards or monitoring their implementation.

The foundation aims to ensure that the board of trustees includes individuals with the necessary expertise to effectively oversee the work of the FASB and GASB. Nominations for the board of trustees can be submitted by interested parties, and the foundation will review and consider all nominations before making final selections.

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