Candace Wright, CPA/CFF, has been reappointed as chair of the Private Company Council (PCC), the Financial Accounting Foundation board of trustees announced Tuesday.
Wright, a director with Louisiana-based accounting and business advisory firm Postlethwaite & Netterville, began serving as PCC chair on Jan. 1, 2016. Her second three-year term will end on Dec. 31, 2021.
Timothy Curt, CPA, CGMA, and David Lomax also were reappointed for two-year terms as PCC members. Curt is managing director of Warburg Pincus LLC. Lomax is an assistant vice president and underwriting officer of Liberty Mutual Insurance Company.
The PCC advises FASB on private company issues as the board develops standards and also recommends GAAP alternatives for private companies when necessary. Any GAAP alternatives proposed by the PCC are subject to endorsement by FASB.
The PCC currently consists of 11 members. Four are financial statement users, four are practitioners, and three are preparers.
— Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is the JofA’s editorial director.