The board of trustees of the Financial Accounting Foundation (FAF) has reappointed Michael Morrow to a third two-year term as chair of the US’ Financial Accounting Standards Advisory Council (FASAC), effective 1 January 2024.
The FASAC advises the Financial Accounting Standards Board (FASB) on strategic and technical issues, project priorities, and other matters that affect standard setting. The FASAC provides the FASB with diverse perspectives from individuals with varied business and professional backgrounds.
Morrow joined the FASAC at the start of 2019 and has served as chair since 2020. He will be eligible to be considered for reappointment in 2026.
Commenting on his reappointment, FAF chair Edward Bernard said: “Mike has brought a unique vantage point to the FASAC over the past five years. He is well respected among his peers and brings to this role diverse insights based on his broad experience advising companies involved with manufacturing, technology, financial services, and consumer products.”
Morrow currently serves as the audit committee chair of Cabot Corporation, a Fortune 1,000 global chemical company, where he has served on the board of directors since 2017. A certified public accountant, Morrow worked for PwC for nearly 40 years and held numerous leadership and governance positions within the firm. He advised a wide range of clients, including many Fortune 100 companies across several sectors, as well as private companies and non-profit organisations.