Norwalk, CT, June 3, 2008—FASB Chairman Robert Herz and Dennis Chookaszian, Financial Advisory Accounting Standards Advisory Council (FASAC) chairman, jointly announced that Alicia A. Posta has been named executive director of Financial Accounting Standards Board (FASB) advisory groups, effective immediately. Ms. Posta had been serving as interim executive director of the FASAC since October 2007.
"Alicia’s deep and varied background with various FASB projects will be great ingredients for success in her new role," said Herz. "Her oversight of the advisory groups will ensure that this important component of FASB’s due process will continue to provide critical input into our standard-setting process."
In her new role, Ms. Posta will serve as the primary administrator of the FASB’s activities with its constituent groups, who provide input into its decision-making processes.
These include the FASAC, consisting of a diverse membership of financial statement users, preparers, and auditors representing a cross-section of industries; the Investors Technical Advisory Committee (ITAC), consisting of investors with strong technical accounting knowledge; the User Advisory Council (UAC), representing investors and investment professionals, equity and credit analysts, and rating agencies; and the Small Business Advisory Committee (SBAC), representing more than 20 users, preparers and auditors from the small business community.
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Neal E. McGarity, Director of Communications
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