Robert DeSantis, a top executive with the parent organization of the Financial Accounting Standards Board and Governmental Accounting Standards Board, has resigned.

DeSantis, president and COO of the Financial Accounting Foundation, is leaving the organization to pursue other corporate executive opportunities, according to spokeswoman Christine Klimek. She did not know what job he would be moving to next or if he would be going to the private sector.

He will be departing effective Sept. 21, only two years after he took over the job of overseeing the FAF. Before he took over at the FAF, DeSantis held senior executive positions in the broadband communications, high-tech, telecommunications, and utility industries for 20 years.

The Bureau of National Affairs' Daily Tax Report, which broke the story, noted that questions about the oversight and independence of GASB have risen in recent months. SEC Chairman Christopher Cox has called for better public funding of GASB and for the SEC to oversee GASB, similar to the way it began overseeing FASB after the passage of the Sarbanes-Oxley Act (see SEC Calls for More Support for GASB).

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