FAF seeks new PCC members

The Financial Accounting Foundation is looking for nominations to the Private Company Council that shares the perspectives of privately held businesses with the Financial Accounting Standards Board.

The PCC advises FASB on the appropriate accounting treatment for private companies for items under active consideration on the board’s agenda. The council also advises FASB on possible alternatives within U.S. GAAP to address the needs of users of private company financial statements.

The FAF Board of Trustees Appointments Committee wants to recruit candidates with diverse backgrounds and experience to provide a balance of perspectives across the entire organization, including users of private company financial statements, such as bank lenders, venture capital investors and other private equity investors, as well as CPA practitioners from national, regional and local firms.

Ideally candidates would have a background and high-level experience in private company financial accounting and reporting, a history with financial reporting matters or standard-setting activities, and a current technical understanding of financial accounting and reporting.

All nominations need to be sent by the close of business on April 15, 2022. The FAF website contains details on how to apply along with a PCC member profile.