NEWS RELEASE 05/23/13
FINANCIAL ACCOUNTING FOUNDATION NAMES DR. TERRY D. WARFIELD TO ITS BOARD OF
TRUSTEES
Norwalk, CT, May 23, 2013—The Financial Accounting
Foundation (FAF) announced today that it has appointed Dr. Terry D. Warfield,
PwC Professor in Accounting and chair of the Department of Accounting and
Information Systems at the University of Wisconsin, Madison, to the FAF Board of
Trustees. The FAF is the independent, private-sector organization responsible
for the oversight of the Financial Accounting Standards Board (FASB) and the
Governmental Accounting Standards Board (GASB).
"The Board of Trustees is
pleased to welcome Terry as its newest member," said FAF Chairman Jeffrey J.
Diermeier. "His extensive academic, banking, and accounting background will add
significant value to the Trustees as we work to support the FASB and GASB in
establishing and improving financial accounting standards."
Throughout
his distinguished academic career, Dr. Warfield´s research has focused on
accounting standards and disclosure policies, including the effects of
accounting information and disclosures on securities markets.
From 1995
to 1996, Dr. Warfield served as the academic accounting fellow in the Office of
the Chief Accountant at the U.S. Securities and Exchange Commission in
Washington D.C. In that position, he worked on projects related to financial
instruments, financial institutions, and helped coordinate a symposium on
intangible asset financial reporting. Previously, Dr. Warfield worked in the
banking industry.
He also has previously served as a member of the
Financial Accounting Standards Advisory Council (FASAC), the principal advisory
body to the Financial Accounting Standards Board. He has been a member of the
FASB´s Financial Accounting Standards Research Initiative Advisory Board, a
group that facilitates outreach to the academic community on issues related to
the FASB agenda.
Dr. Warfield holds a bachelor´s degree and master´s
degree in business administration from Indiana University and a Ph.D. from the
University of Iowa.
Dr. Warfield´s appointment fills a vacancy on the
Trustees with a term that extends to December 2015; at that time, he will be
eligible to be reappointed for an additional three
years.
About the Financial Accounting Foundation
The FAF is responsible for the oversight, administration, and
finances of both the Governmental Accounting Standards Board (GASB) and the
Financial Accounting Standards Board (FASB). The Foundation is also responsible
for selecting the members of both Boards and their respective Advisory
Councils.