Financial Accounting Foundation Announces Appointment and Reappointments to the Private Company Council (PCC)
Norwalk, CT, August 22, 2023—The Financial Accounting Foundation (FAF) Board of Trustees today announced the appointment of Brad Hendricks to a three-year term on the Private Company Council (PCC) effective January 1, 2024, and the reappointments of Robert Messer and Doug Uhl to their second and final three-year terms beginning January 1, 2024.
Brad Hendricks (academic) will succeed Michael Minnis on the PCC. He will be eligible for consideration for reappointment to another three-year term in 2026. Mr. Hendricks currently serves as an associate professor of accounting at the University of North Carolina at Chapel Hill, Kenan-Flagler Business School. He is a certified public accountant (inactive) in the state of Utah and holds both a Master of Accountancy (MAcc) in Accounting from the University of Utah, and a PhD in Business Administration from the University of Michigan. His work has been published in multiple journals and media outlets including Harvard Business Review, Wall Street Journal, Fortune, and Fast Company.
“A nationally recognized academic researcher, Brad Hendricks will bring another insightful perspective to the PCC and its mission to advise the FASB on private company standard-setting issues,” said FAF Chair Edward C. Bernard. “We look forward to welcoming him to his new role and to his contributions to PCC discussions.”
The Trustees have also extended reappointments to Robert Messer and Doug Uhl, who together joined the PCC in January of 2021. The upcoming appointment will be their final term served.
Robert Messer (financial statement user) currently serves in multiple roles at the American National Bank of Texas, based in the Dallas, Texas metroplex. He is the senior executive vice president, chief financial officer, and chief risk officer for the organization and is responsible for the finance and accounting functions of the $5.5 billion bank.
Doug Uhl (preparer) is a senior principal team leader for Chick-fil-A, Inc. In his current role, he leads a team responsible for all external financial reporting, technical accounting research, accounting policy, and internal controls assurance activities for the company.
“I am pleased that Doug and Robert have agreed to serve additional terms on the PCC,” said FASB Chair Richard R. Jones. “Both individuals have contributed insightful perspectives to PCC discussions on standard-setting issues important to private companies and their financial statement users, and we look forward to their continued contributions to our group discussions.”
About the Financial Accounting Foundation
Established in 1972, the Financial Accounting Foundation (FAF) is an independent, private-sector, not-for-profit organization based in Norwalk, Connecticut. Its Board of Trustees is 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 (collectively, “the Boards”) 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. Both Boards set high-quality standards through a process that is robust, comprehensive, and inclusive. The FASB is responsible for standards for public and private companies and not-for-profit organizations, whereas the GASB is responsible for standards for state and local governments.
The Foundation’s Board of Trustees comprises 14–18 members from varied backgrounds—users, preparers, and auditors of financial reports; state and local government officials; academics; and regulators. The Trustees direct the effective, efficient, and appropriate stewardship of the FASB and GASB in carrying out their complementary missions, select and appoint FASB and GASB members and their advisory councils, oversee the Boards’ activities and due process, and promote and protect the independence of the Boards. For more information, visit www.accountingfoundation.org.
About the Financial Accounting Standards Board
Established in 1973, the FASB is the independent, private-sector organization, based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit www.fasb.org.