The Financial Accounting Foundation, which oversees the Financial Accounting Standards Board, has appointed Jere Shawver, managing partner of assurance and risk at Top 10 Firm Baker Tilly, as the next chair of the Private Company Council, which advises FASB on the impact of its standards on privately held businesses.
Shawver's term will start Jan. 1, 2024, and end in three years on Dec. 31, 2026, when he will be eligible for reappointment. He will be succeeding Candace Wright, a director with Louisiana-based Top 100 Firm Postlethwaite & Netterville (which is due to
At Baker Tilly, Shawver is responsible for managing the assurance practice and risk management, which includes the Office of General Counsel. He has over 40 years of experience advising companies on financial reporting, accounting, and business matters across a wide range of industries including manufacturing and distribution, construction and real estate, higher education, hospitality, government contracting, and technology. He was a member of the AICPA's Auditing Standards Board from 2015-2019 and served as chair of the AICPA's Professional Liability Insurance Committee from 2014-2019, and is a CPA licensed in Virginia.
The FAF also announced Friday that it added a new member to the PCC, David Hoagland, an executive credit officer at U.S. Bank. His term will begin immediately and extend through Dec. 31, 2026, when he will be eligible for reappointment to a second, standard-length term of three years. He is succeeding Zubin Avari of Charter Oak Equity, whose term ended Dec. 31. 2022.
"We look forward to the perspectives that will be brought to the PCC by both of these individuals," said Edward Bernard, chair of the FAF Board of Trustees, in a statement Friday. "I am pleased to welcome them to the council, and the valuable insight they will contribute to the discussions with the FASB."
"The FASB is grateful to Candy for her ardent belief in the work of the PCC and for her commitment and service to the standard-setting process," added FASB member and PCC liaison Susan Cosper. "She has given generously of her time for almost a decade, and we thank her for sharing her insights and providing us with her guidance and keen judgment."
