The Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board, is asking for nominations for at-large trustees.
New trustees will be appointed to a single five-year term starting Jan. 1, 2025. Ideal candidates are highly regarded within their profession, with an understanding of both U.S. and global financial and capital markets, and have a strong appreciation for the importance to the markets, the investment community, and the public at large of independent standard setting for financial accounting and reporting.
They also have to be committed to the mission of the FAF, FASB and GASB, demonstrate concern for the public interest, and appreciate the varying interests and perspectives of investors and other users of financial information and the preparers and auditors of financial reports. Candidates should also demonstrate experience as a corporate or not-for-profit board director or trustee, including active governance and oversight responsibilities and committee membership.
All nominations need to be received by the close of business on Feb. 16, 2024, the FAF said Wednesday. The FAF Board of Trustees Appointments Committee will then make a decision. To provide an array of perspectives across the board of trustees, the Appointments Committee is specifically seeking nominees with background and experience in these areas:
- A CEO or chief investment officer, research director, or similar role for an institutional investment firm, pension or endowment fund, brokerage firm, or similar background including investors who utilize quantitative or fundamental approaches to making investment decisions. Private market experience is preferred for at least one of the new trustees.
- A senior executive, such as a CEO, CFO or similar role for:
- a large, complex, global public company;
- an intermediate-sized private company; or,
- a large, complex not-for-profit organization, such as a university or a hospital.
- A senior partner from one of the four largest international accounting firms.
- A track record of experience with and mastery of diverse aspects of financial reporting and accounting, including strategy, regulation and compliance, and technology, in a manner that demonstrates a commitment to continuous improvement and staying ahead of industry trends.
- Experience with global standard setting.
A complete description of the
Courtesy of GASB
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