Members have been named to a blue-ribbon panel to provide recommendations on accounting standards for privately held companies.
The members represent a variety of constituencies, including lenders, investors and owners, as well as preparers and auditors. They will provide recommendations to the board of trustees of the Financial Accounting Foundation, which oversees the Financial Accounting Standards Board.
The panel will be chaired by Rick Anderson, chairman of accounting firm Moss Adams LLP. Members include Bill Atkinson, chairman of the board of the National Association of State Boards of Accountancy; Daryl Buck, senior vice president and CFO of grocery chain Reasors Holding Company, Inc.; Steve Feilmeier, CFO of consumer goods maker Koch Industries; Hubert Glover, president of government contractor REDE Inc.; David Hirschmann, president and CEO of the Center for Capital Markets Competitiveness at the U.S. Chamber of Commerce; William Knese, vice president of finance and administration at machinery maker Angus Industries; Kewsong Lee, managing director of private equity firm Warburg Pincus; Paul Limbert, CEO of bank holding company WesBanco Inc.; Krista McMasters, CEO of accounting firm Clifton Gunderson; Barry Melancon, president and CEO of the American Institute of CPAs; Jason Mendelson, co-founder of the venture capital firm Foundry Group; Michael Menzies, CEO of Easton Bank and Trust Company; David Morgan, a partner at the accounting firm Lattimore, Black, Morgan and Cain PC; Terri Polley, president of the Financial Accounting Foundation; Dev Strischek, senior vice president of corporate risk management at SunTrust Banks Inc.; Mark Vonnahme, executive vice president of surety at Arch Insurance Group; and Teri Yohn, associate professor of accounting at Indiana University.
The members will be joined by several participating observers, including representatives of the U.S. Federal Financial Institution Regulatory Agencies Group and the U.S. Small Business Administration. They will undertake a comprehensive review of standard-setting for private companies in the U.S. and issue a report containing their recommendations.
Our blue-ribbon panel members represent a broad range of constituencies who share a keen interest in private company financial reporting, said Anderson in a statement. The members we have assembled all possess experience and expertise in this area, and their participation will undoubtedly result in productive, insightful recommendations to the FAF Board of Trustees regarding this important issue.
