The Financial Accounting Foundation has appointed Mark Schroeder, a recently retired senior partner at Deloitte & Touche, to a new position as post-implementation review leader of accounting standards.
Schroeder will be responsible for developing, implementing, and managing the post-implementation review of standards and other authoritative pronouncements issued by the Financial Accounting Standards Board and the Governmental Accounting Standards Board.
FASB has been revising accounting standards in an effort to converge U.S. GAAP with International Financial Reporting Standards by the end of 2011, while facing concerns from various quarters that too many changes at once will prove disruptive and expensive for companies to implement. The new post-implementation review leader job is aimed at addressing these worries.
Schroeder will report to FAF president Teresa S. Polley. I am very pleased to welcome Mark Schroeder to our organization in this important new role, Polley said in a statement. The post-implementation review of accounting standards is of paramount importance to our Board of Trustees in its oversight of the standard-setting process, as well as to our constituents. With 40 years of diverse accounting and financial experience, Mark brings a broad background and perspective to this function, which will further enhance the independent standard-setting process of both boards.
During his career at Deloitte, Schroeder has provided audit and advisory services for both domestic and multinational enterprises in a number of industries, including banking, media, telecommunications, publishing, retail, cable and broadcasting.
