FAF TRUSTEES APPOINT JEFFREY J. PREVIDI TO GOVERNMENTAL ACCOUNTING STANDARDS BOARD

FAF TRUSTEES APPOINT JEFFREY J. PREVIDI
TO GOVERNMENTAL ACCOUNTING STANDARDS BOARD

Norwalk, CT—May 18, 2016—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of credit analyst Jeffrey J. Previdi to the Governmental Accounting Standards Board (GASB). Most recently, Mr. Previdi served as a managing director at Standard & Poor’s Ratings Services.

Mr. Previdi’s term commences July 1, 2016, and will extend through June 30, 2021. He will be eligible for reappointment to an additional term of five years at that time. Mr. Previdi replaces GASB member William W. Fish, whose service on the Board concludes June 30.

“The Board of Trustees is pleased to welcome Jeff to the GASB,” said FAF Chairman Charles H. Noski. “As a long-time credit analyst and risk manager with in-depth knowledge of both municipal securities and government finance, his experience and perspective will add substantial value to the GASB as it addresses a broad spectrum of issues going forward.”

David A. Vaudt, GASB chair, added, “Jeff’s expertise and insight will serve the GASB well on the important issues we’re currently addressing, including developing an initial document for public comment on the reexamination of the financial reporting model for governments.”

Mr. Previdi served in a variety of roles for more than two decades at Standard & Poor’s Ratings Services, now known as S&P Global Ratings. Most recently he served as managing director and project leader in the agency’s risk program. In that role, he led a global team of individuals who analyzed and implemented rules stemming from the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Prior to that role, Mr. Previdi was a municipal credit analyst for 20 years. Starting as a tax-exempt housing bond analyst, he progressed to leading S&P’s team covering municipal structured finance ratings, then to co-leading the group responsible for all tax-backed ratings in the U.S. He also served on the U.S. Public Finance Criteria Committee for many years.

Mr. Previdi holds a bachelor’s degree in economics from Connecticut College and a master of public policy degree from the College of William & Mary. He is a member of the National Federation of Municipal Analysts.

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 http://www.accountingfoundation.org/.

About the Governmental Accounting Standards Board

Established in 1984, the GASB is the independent, private-sector organization, based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for U.S. state and local governments that follow Generally Accepted Accounting Principles (GAAP). These standards are recognized as authoritative by state and local governments, state Boards of Accountancy, and the American Institute of CPAs (AICPA). The GASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to taxpayers, public officials, investors, and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the GASB. For more information, visit http://www.gasb.org/.