Financial Accounting Foundation Names David A. Vaudt Chairman of the
Governmental Accounting Standards Board
Norwalk, CT, April 4,
2013—Iowa Auditor of State David A. Vaudt today was named as the next
chairman of the Governmental Accounting Standards Board (GASB), effective July
1, 2013. The appointment was made by the Board of Trustees of the Financial
Accounting Foundation (FAF), which oversees the GASB and its sister
organization, the Financial Accounting Standards Board (FASB).
Mr. Vaudt
was appointed by the FAF Trustees to a single, seven-year term, a change from
the past practice of appointing GASB chairs to an initial five-year term with
the possibility of serving a second five-year term. Mr. Vaudt will succeed
current GASB Chairman Robert H. Attmore, who is retiring on June
30.
"We´re very pleased to welcome David Vaudt as the new chairman of the
GASB," said Jeffrey J. Diermeier, chairman of the FAF Board of Trustees.
"David´s extensive experience with and knowledge of the challenging accounting
and financial issues facing state and local governments will enable him to
continue the strong tradition of leadership and transparency established by our
outgoing chairman, Bob Attmore, during his nine distinguished years as head of
the GASB."
Mr. Vaudt has served as Iowa´s constitutionally elected
auditor of state since January 2003. In that position, he has been responsible
for auditing the state´s Comprehensive Annual Financial Report and Single Audit
Report. He also has supervised the annual audit of more than 200 Iowa cities,
counties, school districts, and other government organizations and agencies.
Previously, Mr. Vaudt worked for 25 years in KPMG´s Des Moines office,
including 13 years as a partner. He specialized in the office´s government
services practice and also served as the office´s human resources and recruiting
partner. In the latter roles, he was responsible for conducting the annual
reviews and evaluations of managers and staff and for leading the on-campus
recruiting effort for audit professional staff. He also served as an instructor
for KPMG national governmental accounting and auditing continuing education
courses.
Mr. Vaudt was president of the National State Auditors
Association from 2011 to 2012, chair of the National Association of State Boards
of Accountancy from 2003 to 2004, and chair of the Iowa Accountancy Examining
Board from 1995 to 2002. He also has served on the boards or audit committees of
civic or government organizations, including the Better Business Bureau of Iowa,
the Iowa Homeless Youth Centers, the Des Moines public school system, the Young
Women´s Resource Center, and the Walnut Creek Family YMCA.
"All of us at
the FAF look forward to working with David as we continue to pursue our
objective of more closely aligning the goals and operations of the FAF, the
FASB, and the GASB in the months and years ahead," said FAF President and CEO
Teresa S. Polley.
"These are challenging times for state and local
governments," Mr. Vaudt said. "I look forward to quickly engaging with the other
GASB members and the wide range of GASB stakeholders, especially the
Governmental Accounting Standards Advisory Council, to get a sense of the issues
that they believe are the most pressing as we move ahead. I´m also looking
forward to working during my transition with Bob Attmore, who has done an
exceptional job of leading GASB in the past nine
years."
About the Financial Accounting Foundation
The FAF is responsible for the oversight, administration, and
finances of both the Financial Accounting Standards Board (FASB) and its
counterpart for state and local government, the Governmental Accounting
Standards Board (GASB). The Foundation is also responsible for selecting the
members of both Boards and their respective Advisory Councils.
About the Governmental Accounting Standards Board
The GASB is the independent, not-for-profit organization formed
in 1984 that establishes and improves financial accounting and reporting
standards for state and local governments. Its seven members are drawn from the
Board´s diverse constituency, including preparers and auditors of government
financial statements, users of those statements, and members of the academic
community. More information about the GASB can be found at its website, http://www.gasb.org/.