Financial Reporting


The AICPA, the Financial Accounting Foundation (FAF) and the National Association of State Boards of Accountancy (NASBA) on Feb. 26 announced the members of the new blue-ribbon panel on U.S. accounting standards for private companies.

 

The 18-member panel includes lenders, investors and business owners as well as preparers and auditors. The panel is expected to issue recommendations to the FAF Board of Trustees in about a year after reviewing issues affecting the current system of standard setting for private companies in the U.S.

 

Rick Anderson will lead the panel. Anderson is chairman of Moss Adams LLP and is a FAF trustee. The other panel members are:

 

  • Billy Atkinson, board chair, NASBA
  • Daryl Buck, senior vice president and CFO, Reasor’s Holding Co. Inc.
  • Steve Feilmeier, CFO, Koch Industries
  • Hubert Glover, co-founder and president, REDE Inc.
  • David Hirschmann, president and CEO, Center for Capital Markets Competitiveness, U.S. Chamber of Commerce
  • William Knese, vice president, finance and administration, Angus Industries
  • Kewsong Lee, managing director, Warburg Pincus
  • Paul Limbert, CEO, WesBanco Inc.
  • Krista McMasters, CEO, Clifton Gunderson
  • Barry Melancon, president and CEO, AICPA
  • Jason Mendelson, co-founder, Foundry Group
  • Michael Menzies, CEO, Easton Bank and Trust Co.
  • David Morgan, partner, Lattimore, Black, Morgan and Cain PC
  • Terri Polley, president, FAF
  • Dev Strischek, senior vice president, Corporate Risk Management, Sun- Trust Banks Inc.
  • Mark Vonnahme, executive vice president, surety, Arch Insurance Group
  • Teri Yohn, associate professor, Indiana University

 

Representatives of the U.S. Federal Financial Institution Regulatory Agencies Group and the U.S. Small Business Administration, among other organizations, will serve as participating observers.

 

SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

QUIZ

News quiz: Scam email plagues tax professionals—again

Even as the IRS reported on success in reducing tax return identity theft in the 2016 season, the Service also warned tax professionals about yet another email phishing scam. See how much you know about recent news with this short quiz.