NEWS RELEASE 11/15/22
FAF Trustees Appoint Joyce Joseph to the Financial Accounting Standards BoardNorwalk, CT, November 15, 2022—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of Joyce Joseph to the Financial Accounting Standards Board (FASB). Ms. Joseph currently serves as managing director for Capital Accounting Advisory and Research, LLC and as an assistant professor of professional practice at Rutgers University. Her term is effective July 1, 2023 and runs until June 30, 2028. She will then be eligible for consideration for reappointment to one additional five-year term.
Ms. Joseph will succeed Gary R. Buesser whose term with the FASB concludes June 30, 2023.
“On behalf of the FAF Board of Trustees, I am pleased that Ms. Joseph will join the FASB. She is an accomplished financial leader who has demonstrated substantial expertise in technical accounting with a focus on investor advocacy,” said Kathleen L. Casey, chair of the FAF Board of Trustees. “She brings a unique depth of understanding of the standard-setting process and its relevance to the financial investor, having served on the FASB’s Investor Technical Advisory Committee and on the Public Company Accounting Oversight Board’s (PCAOB) Standing Advisory Group.”
Ms. Joseph began her career at KPMG LLP auditing financial institutions before joining Deutsche Bank becoming assistant vice president with controllership responsibilities. She also was a vice president at JP Morgan Chase & Co. leading Securities and Exchange Commission reporting and Sarbanes-Oxley compliance. Ms. Joseph spent nearly two decades leading research and analysis on current and emerging financial accounting and reporting matters with an investor and user perspective first as a managing director at S&P Global Ratings before founding Capital Accounting Advisory and Research, LLC.
In addition to her advisory roles with the FASB and the PCAOB, Ms. Joseph is a board member on the American Institute of Certified Public Accountants (AICPA) Board of Examiners, setting policy for the CPA exams and shaping the future of the accounting profession and its members.
Ms. Joseph holds a Master of Business Administration degree from The Wharton School of the University of Pennsylvania, and a Bachelor of Business Administration degree from Pace University. She is a certified public accountant (CPA), a chartered global management accountant (CGMA), and a Standard & Poor’s certified credit ratings analyst—Financial Institutions Industry. Ms. Joseph is a member of the AICPA, National Association of Black Accountants, and CFA Society New York.
Currently, Ms. Joseph is working on her dissertation as she pursues a Doctor of Business Administration degree at Rutgers Business School and will work to complete that degree in 2023.
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 (FASB)
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.