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May 18, 2010

FASB establishes advisory committee

The US Financial Accounting Standards Board (FASB) has named the members of the newly established Not-for-Profit Advisory Committee (NAC).

The NAC has 17 members from the not-for-profit sector, including users of not-for-profit financial reports, preparers, practitioners, and those with backgrounds in academia and law.

FASB assistant director Jeff Mechanick will serve as the NAC chair.

Mechanick said the NAC will significantly enrich the two-way communication between the FASB and the not-for-profit sector.

“That [communication] is so important to the board’s and staff’s ability to identify and address the sector’s needs and concerns during the FASB’s standard-setting activities,” Mechanick added.

Professional services representatives on the NAC include John Mattie from PricewaterhouseCoopers, Cynthia Pierce from Crowe Horwath, Laura Roos from Moss Adams and Bill Titera from Ernst & Young.


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