State Board Report

March 2010

The 18 members of the new blue‐ribbon panel on U.S. accounting standards for private companies’ financial statements have been named, including:

• Rick Anderson – Panel Chairman, chairman, Moss Adams, LLP

• Billy Atkinson, chair, NASBA, partner, PricewaterhouseCoopers

• Daryl Buck, senior vice president and CFO, Reasor’s Holding Company, Inc.

• Steve Feilmeier, CFO, Koch Industries

• Hubert Glover, co‐founder and president, REDE, Inc.

• David Hirschmann, president and CEO, Center for Capital Markets Competitiveness, U.S. Chamber of Commerce

• William Knese, vice president, finance and administration, Angus Industries

• Kewsong Lee, managing director, Warburg Pincus

• Paul Limbert, CEO, WesBanco, Inc.

• Krista McMasters, CEO, Clifton Gunderson

• Barry Melancon, president and CEO, AICPA

• Jason Mendelson, co‐founder, Foundry Group

• Michael Menzies, CEO, Easton Bank and Trust Company

• David Morgan, partner, Lattimore, Black, Morgan and Cain PC

• Terri Polley, president, FAF

• Dev Strischek, senior vice president, Corporate Risk Management, SunTrust Banks, Inc.

• Mark Vonnahme, executive vice president, surety, Arch Insurance Group

• Teri Yohn, associate professor, Indiana University

The Panel is jointly sponsored by NASBA, the Financial Accounting Foundation and the American Institute of CPAs. It includes lenders, investors, business owners, auditors and preparers. There will also be participating observers from the US Small Business Administration and the US Federal Financial Institution Regulatory Agencies Group. While no date for the initial meeting of the panel has announced, it is anticipated that the group will issue recommendations to the FAF Board of Trustees in about a year, following the Panel’s review of the current standard‐ setting system.

“Our blue‐ribbon panel members represent a broad range of constituencies who share a keen interest in private company financial reporting,” stated Chairman Rick Anderson. “The members we have assembled all possess experience and expertise in this area, and their participation will undoubtedly result in productive, insightful recommendations to the FAF Board of Trustees regarding this important issue.”

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