News Release 01/18/22

FINANCIAL ACCOUNTING FOUNDATION TRUSTEES NAME SIX NEW AND SEVEN REAPPOINTED MEMBERS OF THE GOVERNMENTAL ACCOUNTING STANDARDS ADVISORY COUNCIL (GASAC)


Norwalk, CT—January 18, 2022—The Board of Trustees of the Financial Accounting Foundation (FAF) announced today the appointment of Scott DeViney, Doug Kilcommons, Anita Kovacs, Suzanne Lowensohn, Harriet Richardson, and Bob Scott to the Governmental Accounting Standards Advisory Council (GASAC). All appointees’ terms began January 1, 2022.

In addition to the six newly named members, the FAF reappointed seven members—Thad Calabrese, Karen Carraher, Joni Davis, Ricky Hatch, Angus Maciver, Kevin Smith, and Karen Wiesman for an additional term.

The GASAC advises the Governmental Accounting Standards Board (GASB) on strategic and technical issues, project priorities, and other matters that affect standards setting. Members of the GASAC are responsible for consulting with the GASB on technical issues on the Board's agenda, project priorities, matters likely to require the attention of the GASB, and such other matters as may be requested by the GASB or its chair.

“On behalf of the FAF Board of Trustees, it is a pleasure to welcome our new GASAC members, who will play an important role, providing the GASB with diverse and varied perspectives on projects and other agenda items,” said Kathleen L. Casey, chair of the FAF Board of Trustees. “We would also like to thank the departing members for their time, expertise, and contributions to the standards-setting process,” added Ms. Casey.

The new GASAC members will serve a two-year term and are eligible to be reappointed for up to two additional consecutive terms. They are:
  • Scott DeViney, Assistant Director of Quality Assurance, Washington State Auditor’s Office
  • Doug Kilcommons, Managing Director, Public Finance, Kroll Bond Rating Agency
  • Anita Kovacs, Vice President of Business Affairs, Pensacola State College
  • Suzanne Lowensohn, Associate Professor, University of Vermont, Grossman School of Business
  • Harriet Richardson, Inspector General, San Francisco Bay Area Rapid Transit
  • Bob Scott, Assistant City Manager/Chief Financial Officer, City of Carrollton, Texas.
Members being reappointed to an additional two-year team are:
  • Thad Calabrese, Associate Professor, Robert F. Wagner Graduate School of Public Service, New York University
  • Karen Carraher, Executive Director, Ohio Public Employees Retirement System
  • Joni Davis, Accounting Manager, Nebraska Public Power District
  • Ricky Hatch, County Clerk/Auditor, Weber County, Utah
  • Angus Maciver, Legislative Auditor, State of Montana
  • Kevin Smith, Managing Partner, Public Sector Services, Crowe
  • Karen Wiesman, Associate Superintendent, Business and Financial Services, Mansfield Independent School District, Texas (retired). 
Five members departed from GASAC on December 31, 2021: Robert Scott, Director, Finance, City of Brookfield, WI and GASAC Chair; Peggy Arrivas, Associate Vice President and Systemwide Controller, University of California (retired); Paul Kwiatkoski, Managing Director, Public Finance Sector, Kroll Bond Rating Agency; Craig Murray, Director of Professional Practice, Michigan Office of the Auditor General; and Terry Patton, Robert Madera Distinguished Professor of Accounting, Dillard College of Business Administration, Midwestern State University. An additional member, Lise Valentine, former Deputy Inspector General for Audit and Program Review, city of Chicago, and GASAC vice chair, departed earlier this year.

For a complete list of current GASAC members, visit the GASAC webpage.


About the Financial Accounting Foundation

Established in 1972, the Financial Accounting Foundation (FAF) is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). The FASB and GASB establish and improve financial accounting and reporting standards—known as Generally Accepted Accounting Principles, or GAAP—for public and private companies, not-for-profit organizations, and state and local governments in the United States. For more information, visit www.accountingfoundation.org.
 

About the Governmental Accounting Standards Board

Established in 1984, the GASB is the independent, private-sector organization based in Norwalk, Connecticut, that establishes accounting and financial reporting standards for U.S. state and local governments that follow Generally Accepted Accounting Principles (GAAP). These standards are recognized as authoritative by state and local governments, state Boards of Accountancy, and the American Institute of CPAs (AICPA). The GASB develops and issues accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to taxpayers, public officials, investors, and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the GASB. For more information, visit www.gasb.org.
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