The Board of Trustees of the Financial Accounting Foundation (FAF) has appointed Joel Black as the next chair of the US’ Governmental Accounting Standards Board (GASB).

Black will succeed David Vaudt for a seven-year, non-renewable term on 1 July 2020. He will join the organisation in a few months with the aim of enabling an effective leadership transition.

Black has been involved in a number of professional activities concerning government accounting. In 2019 he was appointed to the GASB’s Governmental Accounting Standards Advisory Council (GASAC) and served on the American Institute of Certified Public Accountants’ (AICPA) State and Local Government Expert Panel from 2015–2019, and its Government Audit Quality Center Executive Committee from 2012–2015.

Commenting on Blacks appointment, FAF chair Kathleen Casey said: “Joel Black has a longstanding and demonstrated commitment to the mission and work of the GASB and will make an excellent chair.

“He brings extensive knowledge and experience to the role and has genuine appreciation for the opportunities and challenges that our stakeholders face as accounting standards change.  We are pleased to welcome him to the organisation and look forward to his future leadership.

Black said: “I am very excited to take on this new professional challenge. I have been immersed my entire adult life in the important, complex world of governmental accounting. I am eager to join my new colleagues in the mission to establish and improve accounting standards, and to engage with the remarkably diverse groups of stakeholders who care so much about public sector financial reporting.”

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Black is currently the partner in charge of audit at accounting firm Mauldin & Jenkins, where he oversees the audit practice of the firm’s eight offices. Prior to joining Mauldin & Jenkins as a director in 2004, he worked for KPMG from 1992.