Private Company Financial Reporting Panelists Named

The AICPA, the Financial Accounting Foundation (FAF) and the National Association of State Boards of Accountancy (NASBA) on Friday 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.

FAF announced last month that Rick Anderson will lead the panel. Anderson is chairman of Moss Adams LLP and is a FAF trustee. (Click here to read an interview with Anderson.)

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, SunTrust 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.

The first panel meeting will be held April 12, 2010 at the AICPA office in New York City.