GASB member gets vice chair position

BY KEN TYSIAC

GASB member Jan Sylvis has been named the board’s vice chair, a position that existed early in GASB’s history but recently was retired.

The appointment, which takes effect Jan. 1, was announced Wednesday by the board of trustees of the Financial Accounting Foundation (FAF), which oversees GASB and FASB.

FAF reinstated the vice chair position in response to the increasing demands on the time of the GASB chair, a position currently held by David Vaudt. A strategic focus on expanding outreach to stakeholders was part of the reason for reinstating the vice chair position.

Recent outreach by GASB has been focused on the board’s new pension standards and a proposed standard for other postemployment benefits.

FASB also reinstated a vice chairman position in 2013 because of an increasing demand on the time of the chairman’s position, which is held by Russell Golden. At that time, former SEC Chief Accountant James Kroeker was named to FASB and became that board’s vice chairman.

Sylvis began her first term with GASB on July 1, 2007, and was reappointed to a second, five-year term on July 1, 2012.

Sylvis will serve GASB on a half-time basis. In addition to her role with GASB, she is also chief of accounts for the Department of Finance and Administration for the state of Tennessee, where she serves in effect as the state’s controller. She also is a past president of the National Association of State Auditors, Comptrollers and Treasurers, and a past president of the National Association of State Comptrollers.

“Over the last few years, the trustees have observed the increasing demands on the GASB chairman, which prompted their decision to reinstate the role of the vice chair,” FAF President and CEO Terri Polley said in a new release. “In that role, Jan will assist GASB Chair David Vaudt in representing the GASB in its interactions with our wide range of external stakeholders, a critically important focus for our organization.”

Ken Tysiac ( ktysiac@aicpa.org ) is a JofA editorial director.

SPONSORED REPORT

Building client loyalty with payroll services

In this report, CPA experts detail their tactics for performing successful payroll services, how to mitigate risk in the process, and the impact payroll can have as a value-added service.

PODCAST

Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.