The board of trustees of the US’ Financial Accounting Foundation (FAF) have appointed Elizabeth Pearce as chair of the Governmental Accounting Standards Advisory Council (GASAC). Pearce’s term will begin 1 January 2022. She will succeed Mr. Robert W. Scott, who joined the GASAC in 2011 and became Chair in 2015.

The GASAC advises the Governmental Accounting Standards Board (GASB) on strategic and technical issues, project priorities, and other matters that affect standard setting. The GASAC provides the GASB with diverse perspectives from individuals with varied governmental, professional, and occupational backgrounds.

Pearce currently serves as the treasurer for the US state of Vermont. She is the state’s banker and investment officer. In her role, she manages short and long-term debt, the administration of three retirement systems, unclaimed property funds, and plays an advisory role to state policy makers.

FAF board of trustees chair Kathleen Casey said: “It is a pleasure to welcome Beth Pearce as our new GASAC chair. She will play an important role in the GASB process. We would also like to thank our departing chair, Robert Scott, for his time, expertise, and the contributions he made to the standard-setting process