FAF REAPPOINTS JAMES E. BROWN TO SECOND TERM ON THE GASB; APPOINTS KRISTOPHER E. KNIGHT TO BOARD
Norwalk, CT—February 28, 2017—The Board of Trustees of
the Financial Accounting Foundation (FAF) today reappointed veteran
governmental auditor James E. Brown to a second term on the Governmental
Accounting Standards Board (GASB), the FAF announced. The Trustees also
appointed Kristopher E. Knight, Delaware's deputy secretary of state
and director of the state's Division of Corporations, to a five-year
term on the GASB.
The GASB is the independent, private-sector organization that sets
accounting standards for state and local governments in the United
States. The FAF oversees the activities of the GASB and its sister
accounting standard setter, the Financial Accounting Standards Board
Messrs. Brown and Knight's terms become effective July 1, 2017, and
extend through June 30, 2022. Mr. Knight will succeed outgoing Board
member Jan I. Sylvis, whose term concludes on June 30, 2017. Ms. Sylvis,
who was appointed to the Board in 2007, has served as its vice chair
since January 2015.
"The Board of Trustees is pleased to have Jim serve another term on the
GASB," said FAF Chairman Charles H. Noski. "His insight and perspective
will continue to be valuable resources to the Board."
"Jan Sylvis's service on the Board and contributions in the area of
stakeholder outreach allowed the GASB to forge stronger, more productive
bonds with the financial statement preparer, auditor, and user
communities during her tenure," Mr. Noski added.
Regarding Mr. Knight's appointment, Mr. Noski said "We welcome
Kristopher to the GASB. The wealth and variety of experience in
governmental accounting he brings will be substantial assets to the
GASB Chairman David A. Vaudt said "Jim's deep experience as an auditor
and accounting educator promoted vigorous Board discussion during his
first term. His ability to understand and appreciate the viewpoints of
preparers and users will continue to be of great value to the Board
going forward. Kristopher's energy, expertise, and ability to carefully
evaluate all points of view will serve the Board well as we continue our
work on the reexamination of the Financial Reporting Model, Revenue and
Expense Recognition, and in other project areas."
"Jan's ten years of service on the GASB, including in the role of vice
chair for the past two years, are marked by her singular dedication to
working to improve accounting and financial reporting for the Board's
diverse range of stakeholders and that is something for which we are all
very grateful," Mr. Vaudt said. "She will truly be missed."
Prior to joining the GASB in 2012, Mr. Brown served for more than 25
years as a partner at BKD, LLP, a large regional public accounting firm
headquartered in Springfield, Missouri. At BKD, he was responsible for
quality control and training for the firm's government and
not-for-profit practice from 1984 until 2011, and acted as the firm's
principal contact with the GASB.
Before joining BKD, Mr. Brown was a partner in a local public accounting
firm in Joplin, Missouri. He previously taught accounting and auditing
at Missouri Southern State University in Joplin and presently serves as a
continuing education instructor for the American Institute of Certified
Public Accountants (AICPA). A past member of the AICPA's Auditing
Standards Board and Board of Examiners, Mr. Brown is a certified public
accountant and a certified government financial manager.
Mr. Knight is Delaware's deputy secretary of state and director of the
state's Division of Corporations. In his role, he oversees the state's
$1 billion corporate franchise and servicing of the 1.2 million business
entities that make their legal home in Delaware. Mr. Knight also
supervises several other divisions of the Delaware Department of State,
including the Office of the State Banking Commissioner, the state's
Corporate and International Development office, and Delaware's abandoned
property Voluntary Disclosure Agreement program. Since 2012, he has
also served as treasurer of the Delaware Sustainable Energy Utility's
Board of Directors. There, Mr. Knight led a comprehensive overhaul of
the utility's financial policies and practices.
Previously, Mr. Knight served as the director of Delaware's Division of
Accounting. In that role, he administered policy related to the state's
procurement card program, which has an $80 million annual budget. Prior
to his career in public service, Mr. Knight served in positions of
increasing responsibility at KPMG LLP for more than a decade. As senior
audit manager, he managed all aspects of governmental client audits,
including those for the University of Delaware, the state of Delaware,
and Philadelphia Gas Works. Mr. Knight holds a bachelor's degree in
business administrationÃ¢â‚¬â€�accounting from Loyola University. He is a
certified public accountant and a member of the AICPA.