Financial Accounting Foundation Appoints Two New Members to GASB Advisory Council

The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of two new members to the Governmental Accounting Standards Advisory Council (GASAC).

They are Neria Douglass, the treasurer for the state of Maine, who represents the Council of State Governments; and Richard Larkin, a senior vice president and director of credit analysis for HJ Sims & Company, Inc. and represents the Securities Industry and Financial Markets Association.

The GASAC is responsible for advising the Governmental Accounting Standards Board (GASB) on technical issues, project priorities, and other matters that affect standards setting for accounting and financial reporting by state and local governments. The new members, whose appointments are effective immediately, will serve terms that extend to December 31, 2015.

“We are pleased to welcome Neria and Richard to the GASAC,” said FAF President and Chief Executive Officer Teresa S. Polley. “Both have demonstrated a strong commitment to working toward well-informed decision making in public sector financial reporting.”

“Neria and Richard’s backgrounds will be of great value to the GASAC as we provide the GASB with thoughtful feedback, insight, and analysis needed to achieve its goal of continually improving accounting standards used by state and local governments,” added GASAC Chairman Martin J. Benison.

Members of the GASAC are chosen from a cross-section of the GASB’s state and local government stakeholders, including users, preparers, and auditors of financial information. GASAC members are selected on the basis of their professional expertise and the depth and variety of experience they bring to their work on the Council.