News Release 12/18/19

Financial Accounting Foundation Appoints 11 New Members to the Financial Accounting Standards Advisory Council (FASAC)

Norwalk, CT—December 18, 2019—The Financial Accounting Foundation (FAF) Board of Trustees, today announced the appointment of new members to the Financial Accounting Standards Advisory Council (FASAC). The FAF Trustees also reappointed 21 FASAC members for additional one-year terms.

The FASAC advises the Financial Accounting Standards Board (FASB) on strategic and technical issues, project priorities, and other matters that affect standard setting. The FASAC provides the FASB with diverse perspectives from individuals with varied business and professional backgrounds.

“I am pleased to welcome our new FASAC members, and know they will play an important role in helping the FASB improve financial reporting for all our stakeholders,” said Charles H. Noski, chairman of the FAF Board of Trustees.  “I would also like to thank the departing members for their expertise, commitment, and input to the standard-setting process.”

The new FASAC members will serve a one-year term beginning January 1, 2020 and are eligible to be reappointed for three additional one-year terms. The new appointees are:
  • Lara Abrash, Chairman and CEO, Deloitte & Touche LLP
  • Paul Beswick, Partner, Assurance Services (National Office), EY
  • Ted Christensen, Director and Terry Distinguished Chair of Business – J.M. Tull School of Accounting, University of Georgia
  • Robert Fox, National Managing Partner of Professional Standards, Grant Thornton LLP
  • Katherine Gill-Charest, Senior Vice President, Controller, Viacom Inc.
  • Howard Guild, Chief Accounting Officer, Schlumberger Limited
  • Ginger Jones, Board Member – Audit Committee, Tronox Ltd., Libbey’s Inc.
  • Lucas Klein, Director of Research, Fidelity Worldwide Investment
  • Lisa Koonce, Deloitte & Touche Endowed Chair in Accounting, University of Texas at Austin
  • Andrew Skatoff, Senior Member, Investment Team, Belfer Management LLC
  • Greg Wachsman, Vice President, Equity Research Analyst, VOYA Investment Management.
Eleven FASAC members will retire on December 31, 2019: Kimber Bascom, Stuart Birdt, Marie Gallagher, Sydney Garmong, Sameer Gokhale, Jeffrey Hales, Mark LaMonte, Cathy Shakespeare, David Sullivan, Ted Timmermans, and Randall Woods; as well as the FASAC Chairman, Andrew G. McMaster, Jr.

For the full listing of FASAC members, visit the FASAC 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

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