Ted Christensen, director of the J.M. Tull School of Accounting in the Terry College of Business, is one of 11 new members on the Financial Accounting Standards Advisory Council.
The Financial Accounting Foundation Board of Trustees announced the appointments in December, and Christensen’s term of service began Jan. 1.
FASAC advises the Financial Accounting Standards Board on strategic and technical issues, project priorities and other matters that affect standard setting. FASAC provides the board with diverse perspectives from individuals with varied business and professional backgrounds.
The new FASAC members were appointed to a one-year term and are eligible to be reappointed for three additional one-year terms. The FAF trustees also reappointed 21 FASAC members for additional one-year terms in December.
Established in 1972, the Financial Accounting Foundation is the independent, private-sector, not-for-profit organization responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board and the Governmental Accounting Standards Board. 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.