Norwalk, CT, January 11, 2010—The American Institute of
Certified Public Accountants (AICPA), the Financial Accounting Foundation (FAF),
and the National Association of State Boards of Accountancy (NASBA) today
announced that Rick Anderson, chairman of Moss Adams LLP, has been named
chairman of the “blue-ribbon panel” established to address how U.S. accounting
standards can best meet the needs of users of private company financial
statements.
Mr. Anderson currently serves on the FAF Board of Trustees.
He was a member of the AICPA council for three years, is the immediate past
chair of the AICPA Major Firms Group, and has been involved with other
professional committees. He joined Moss Adams in 1973, spending his career in
the firm’s Seattle and Yakima offices providing audit and consulting services to
manufacturing, agricultural, and food processing entities. He was appointed
director of accounting and auditing in 1984, director of operations in 1993,
became president/COO in 1999, and became chairman and CEO in 2004.
“Rick
is an outstanding selection to lead this panel,” AICPA President and CEO Barry
Melancon said. “He has experience in all facets of private company accounting
and as CEO of his firm he is in direct contact with a wide and diverse
constituency of private companies. As a member of the FAF Board of Trustees he
is keenly aware of the challenges inherent in setting accounting standards. Rick
has a long personal track record of service to the profession and to the public.
We look forward to working with him on this vitally important project.”
FAF President Teresa Polley said, “The FAF Board of Trustees is
delighted that Rick has agreed to chair this panel. Rick brings a deep knowledge
of the financial reporting issues faced by enterprises, both public and private,
in diverse industries. That broad perspective will serve him well as the panel
considers the needs of users of private company financial statements.”
Members of the panel will represent a cross section of financial
reporting constituencies, including lenders, investors, and owners as well as
preparers, auditors, and regulators. Further details on the composition of the
panel will be announced shortly.
David Costello, president and chief
executive officer of NASBA, said, “Mr. Anderson’s rich experience in serving
clients in the accounting profession and in serving the general public in his
role with the Financial Accounting Foundation ideally positions him to be the
chairman of this panel addressing standards for private companies.”
As
announced last month, the “blue-ribbon panel” will provide recommendations on
the future of standard setting for private companies.
Media
Contacts:
FAF - Neal E. McGarity, 203-956-5347,
nemcgarity@f-a-f.org;
Christine L. Klimek, 203-956-3459, clklimek@f-a-f.org
AICPA
- William Roberts, 202-434-9266, wroberts@aicpa.org;
Joel Allegretti, 212-596-6111, jallegretti@aicpa.org.
Media representatives are invited to visit the AICPA Online Media Center at http://www.aicpa.org/MediaCenter
NASBA
- Tom Kenny, 615-880-4237, tkenny@nasba.org
About
the AICPA
The American Institute of Certified Public Accountants
(http://www.aicpa.org/) is the national,
professional association of CPAs, with more than 360,000 members, including CPAs
in business and industry, public practice, government, and education. It sets
ethical standards for the profession and U.S. auditing standards for audits of
private companies; federal, state and local governments; and not-for-profit
organizations. It develops and grades the Uniform CPA Examination.
The
AICPA maintains offices in New York, Washington, D.C., Durham, N.C., Ewing, N.J,
and Lewisville, Texas.
About the Financial Accounting Foundation
The FAF is responsible for the oversight, administration, and
finances of both the Financial Accounting Standards Board (http://www.fasb.org/) and its counterpart for
state and local government, the Governmental Accounting Standards Board (http://www.gasb.org/).
The FASB is the
designated organization in the private sector for establishing standards of
financial accounting and reporting for non-governmental entities in the U.S. The
GASB establishes and improves financial accounting and reporting standards for
state and local governments. The FAF also is responsible for selecting the
members of both Boards and their respective Advisory Councils.
The FAF is
based in Norwalk, Conn.
About NASBA
The National
Association of State Boards of Accountancy (http://www.nasba.org/) is the membership
organization for the 55 boards of accountancy (50 states, Puerto Rico, Virgin
Islands, Washington D.C., Guam, and Commonwealth of the Northern Mariana
Islands. NASBA’s mission is to enhance the effectiveness of state boards of
accountancy through programs which preserve the public trust and confidence in
the CPA license, ensure that the integrity, objectivity and independence of CPAs
are not compromised and foster compliance with ethical and professional
standards.
NASBA is headquartered in Nashville, TN and maintains a
northeast office in New York, NY.