FAF Appoints 13 to FASAC, 5 to GASAC
The Financial Accounting Foundation’s board of trustees has appointed 13 new members to the Financial Accounting Standards Advisory Council and five new members to the Governmental Accounting Standards Advisory Council, effective January 1.
The FASAC is responsible for advising the Financial Accounting Standards Board on technical issues, project priorities, and other matters that affect accounting standard setting. The GASAC is responsible for advising the Governmental Accounting Standards Board on technical issues, project priorities, and other matters that affect standard setting for state and local governments’ accounting and financial reporting. The FAF oversees both FASB and GASB. The FAF also recently named three new members to its board of trustees.
Members of the FASAC are chosen from a cross-section of FASB’s constituents, including users, preparers, practitioners, associations, academics, and other parties interested or involved in financial reporting. FASAC members are chosen based on their professional expertise and their ability to broaden the base of constituent views on the Council.
The following new members will begin their term on the FASAC:
User (Investor) Community
• Kay Ryan Booth, Managing Director, Golden Seeds Fund
• Adam G. Hurwich, Portfolio Manager, Ulysses Management LLC
• Joseph Longino, Principal – Investment Strategy, Sandler O’Neill + Partners, L.P.
Preparer (Corporate) Community
• Peter Carlson, Executive Vice President and Chief Accounting Officer, MetLife
• Patrick T. Mulva, Vice President and Controller, Exxon Mobil Corporation
Practitioner (Audit) Community
• Cynthia M. Fornelli, Executive Director, Center for Audit Quality
• Jan Hauser, Partner, PricewaterhouseCoopers
• James R. Taylor, Partner in Charge – Assurance, Hogan Taylor LLP
• Susan S. Coffey, Senior Vice President – Public Practice and Global Alliances, American Institute of CPAs (AICPA)
• Kenneth Daly, President and Chief Executive Officer, National Association of Corporate Directors (NACD)
• Anthony J. Dowd, Chief of Staff and Special Assistant to the Chairman – President’s Economic Recovery Advisory Board, Office of Paul A. Volcker
• Patrick E. Hopkins, Professor of Accounting and Deloitte Foundation Accounting Faculty Fellow, Kelley School of Business, Indiana University
• John W. White, Partner, Cravath, Swaine & Moore LLP
In addition to the new appointees, the FAF announced that Joan Amble, Charles Bobrinskoy, James Bothwell, Carolyn Callahan, Jerry de St. Paer, Lewis Dulitz, Ralph Ferrara, Gary Kabureck, Mark Lang, Feilong Li, Joel Osnoss, Richard Ramsden, Arleen Thomas, William Widdowson, and Jed Wrigley will complete their terms at the end of 2011. The FAF also reappointed 21 current members of the FASAC.
Members of the GASAC are chosen from a cross-section of GASB’s state and local government constituencies, including users, preparers, and attestors of financial information. GASAC members are selected on the basis of their professional expertise and the depth and variety of experience they bring to their work on the Council.
The following is a list of the newly appointed members and the constituent organizations that nominated them:
• Jacqueline L. Reck, James E. Rooks and C. Ellis Rooks Distinguished Professor of Accounting, School of Accountancy, University of South Florida (nominated by the American Accounting Association)
• Odd Stalebrink, Associate Professor of Public Administration, School of Public Affairs, Pennsylvania State University (nominated by the Association for Budgeting and Financial Management)
• Joseph Stefko, Director of Public Finance, Center for Governmental Research (nominated by the Governmental Research Association)
• Charles A. Tegen, Comptroller, Clemson University (nominated by the National Association of College and University Business Officers)
• Glen Whitley, Tarant County Judge, Texas (nominated by the National Association of Counties)
The FAF also said Wednesday that Paul G. Camell, W. Daniel Ebersole, and Michelle R. Seitz have been appointed to the FAF board of trustees. Camell is executive vice president of mergers and acquisitions and chief administrative officer for CDM, a global consulting, engineering, construction, and operations firm. He previously served as the firm’s chief financial officer and senior vice president of finance.
Ebersole served as the state treasurer for the state of Georgia from 1997 to 2010, and was responsible for investing more than $14 billion of state and local government funds and administering two local government investment pools. He has more than 30 years of experience in both the executive and legislative branches of Georgia state government and served as a member of the Governmental Accounting Standards Advisory Council from 2003 to 2010. He was chairman of the group from 2008 until 2010.
Seitz is a member of the executive committee of William Blair & Company, L.L.C. She has more than 24 years of investment experience and leads William Blair Investment Management, consisting of the institutional, mutual fund, and private wealth management businesses. All three trustees will serve a five-year term that begins January 1