The Financial Accounting Foundation (FAF), which oversees the FASB, has launched a search for a successor chair to current FASB Chairman Leslie Seidman
, whose term wraps up at the end of June, 2013. The news was reported by Denise Lugo of BNA, in Executive Search Launched for Next FASB Chairman
(BNA Daily Report for Executives, Sept. 24, 2012). (sub req'd).
According to BNA's Lugo, FAF President and CEO noted the above at a public liaison meeting between members of the FASB and the Institute of Management Accountants (IMA)
on Friday. (FASB holds many public liaison meetings with industry associations and others as part of its outreach efforts. FEI's Committee on Corporate Reporting also holds public liaison meetings with the FASB, as does the AICPA and others.)
Seidman is currently serving her second term on the FASB board, and the FAF's bylaws preclude FASB members from serving a third term. As noted by BNA's Lugo, Seidman was originally appointed to the board when then-FASB board member John Wulff resigned to take a position in the private sector.
Don't Miss CFRI, and the FEI Hall of Fame!
In related news, former FASB member John Wulff, mentioned above, is one of this year's inductees in FEI's Hall of Fame
, along with Bill Ihlanfeldt, Hans Storr, and Bob Wayman. The Gala induction event, slated for Nov. 12, will be held once again at Gotham Hall in NYC. To puchase a seat online or inquire about sponsorships, please click here
FEI invites you not only to attend the Hall of Fame, but spend a block of time with your peers and some of the leading regulators, financial executives, and audit professionals of our time, by attending FEI's Current Financial Reporting Issues Conference (CFRI),
Nov. 12-13 at the Marriott Marquis- Times Square Hotel in NYC. (Separate registration required for CFRI). Hear updates from speakers
including SEC Acting Chief Accountant Paul Beswick, PCAOB Board Member Jay Hanson, FASB Chairman Leslie Seidman, and IASB Chairman Hans Hoogervorst, as well as keynote speakers on the economy, and more. Participate in breakout sessions on topics on which you'd like more of a 'deep dive.'
Pre- and Post- Conf Workshops on Fraud, Financial Reporting
When you register for CFRI
, you can also register for a pre-conference workshop, "Buiding the Case for Fraud Detection," sponsored by the Center for Audit Quality
, on Nov. 11 (sep. reg. fee required), and a post-conference workshop, Accounting and Reporting Boot Camp, sponsored by Deloitte
(sep reg. fee req'd).
FAF 101: Brought to you by the MACPA
In other FASB and FAF news, Tom Hood, CEO and Bill Sheridan, Chief Communications Officer of the Maryland Association of CPA's (MACPA)
bring you a great video interview of FAF President and CEO Terry Polley, entitled "FAF 101: What CPAs Should Know About the Financial Accounting Foundation."
Props to our friends at the MACPA; we encourage you to watch their video below.