Kroeker reappointed as FASB’s vice chairman

By Ken Tysiac

James Kroeker was reappointed as FASB’s vice chairman, the Financial Accounting Foundation Board of Trustees announced Tuesday.

Gary Buesser, a longtime portfolio manager and financial analyst, also was named to FASB. Both terms take effect July 1.

In 2013, the FAF trustees decided to reinstate FASB’s vice chairman position, which had been created early in the board’s history but later was retired. The reinstatement was a response to increasing demands on the time of FASB’s chairman.

Kroeker, who served as the SEC’s chief accountant from 2009 to 2012, began his first term as FASB’s vice chairman on Sept. 1, 2013. He worked closely with FASB Chairman Russell Golden in FASB’s issuance of major new accounting standards for revenue recognition, leases, credit losses, not-for-profit financial reporting, and hedging.

“With Jim’s reappointment, I’m very pleased to be able to continue to work alongside and collaborate with him as I have over the past years—a critical phase in the board’s history,” Golden said in a news release. “The FASB also benefits greatly not only from Jim’s deep experience and singular perspective, but also from his wise counsel.”

Buesser has been a portfolio manager and research analyst for the past 30 years, including at Lazard Asset Management from 2000 to the present. As a FASB member, he will succeed Marc Siegel, whose second and final term ends June 30.

Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is a JofA editorial director.

SPONSORED REPORT

Tax reform complicates year-end tax planning

Get your clients ready for tax season with these year-end tax planning strategies, which address how to make the most of recent tax law changes, such as the new deduction for qualified business income and the cap on the deductibility of state and local taxes.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.