In a recent interview with Practical Accountant, Judith O’Dell, the recently-appointed chairwoman of the Private Company Financial Reporting Committee, explained the mandate that the committee will be following as it explores the need for different reporting standards for public and private companies in the following months.
O’Dell is president of Chestertown, Md.-based O'Dell Valuation Consulting LLC CPAs, and serves as chief financial officer for a family-owned business engaged in real-estate development and construction, as well as a hotel and restaurant operation. For five years, she served as a trustee of the Financial Accounting Foundation, which oversees both the Financial Accounting Standards Board and the Governmental Accounting Standards Board. She also chaired the Financial Accounting Foundation Audit Committee and was a member of the foundation’s Finance and Executive committees.
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