The Board of Trustees of the Financial Accounting Foundation (FAF) in the US has invited nominations for new members to join the Financial Accounting Standards Advisory Council (FASAC).
The new members will join the council for an initial one-year term beginning on 1 January 2027.
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FASAC is the main advisory body to the Financial Accounting Standards Board (FASB). The council is made up of around 37 members drawn from a wide range of the FASB’s stakeholder groups.
Its key role is to advise the FASB on matters related to projects already on the FASB agenda, potential new agenda items, project prioritisation and procedural issues requiring the FASB’s attention. It may also address other topics at the request of the FASB chair.
FASAC members are appointed by the FAF Trustees for an initial one-year term and may be reappointed for up to three further one-year terms.
The candidates should bring experience and knowledge of financial accounting and reporting issues.
Members are expected to have skills and backgrounds that either complement or enhance the expertise already represented on FASAC or provide other forms of insight valuable to the FASB.
To maintain a diversity of viewpoints and professional backgrounds, the FASAC chair is seeking candidates with experience and achievements from several specific communities.
Potential nominees may include accounting research analysts, credit rating analysts, hedge fund investors, private equity investors, research directors, senior equity or debt analysts, or individuals with comparable experience, the FAF said.
Candidates may also be those who hold responsibility for the preparation, accuracy and integrity of a company’s financial statements.
The call, among others, extends to senior partners from mid-sized regional or national public accounting practices outside the ‘Big Four’.
People from the fields of law and corporate governance can also apply.
Last month, the FAF Board of Trustees picked Joel Levy as the new member of the Governmental Accounting Standards Advisory Council.
