Catherine Shakespeare, a top accounting academic, has been appointed to the FASB. She'll bring over 30 years of experience to the board, starting July 2026.
Key Points
•📅 Mark Your Calendars: Shakespeare's term begins July 1, 2026
•⏳ Term Length: Her initial term runs until June 30, 2031
•🎓 Academic Powerhouse: Professor at the University of Michigan with over 30 years' experience
•📰 Media Presence: Quoted in top publications like The Wall Street Journal and Financial Times
•🧠 Deep Expertise: Member of the FASB's Academic Resource Group since 2014
🎉 Big News in Accounting
In a move that has the accounting world buzzing, Catherine Shakespeare has been appointed to the Financial Accounting Standards Board (FASB). The announcement came from the Financial Accounting Foundation (FAF) and marks a significant addition to the board. Shakespeare will begin her term on July 1, 2026, and it will run through June 30, 2031. During this time, she'll be eligible for reappointment. Her extensive experience and academic prowess make her a standout choice.
📚 Who is Catherine Shakespeare?
Catherine Shakespeare isn't just any academic; she's a heavyweight in the field of accounting. Currently, she's a Professor of Accounting and the Thomas C. Jones Associate Dean for Undergraduate Programs at the University of Michigan. With over 30 years of experience, she's contributed to numerous research papers and has been quoted in prestigious publications like The Wall Street Journal, Financial Times, Business Week, and The New York Times. Her expertise is further highlighted by her participation in various academic and association conferences.
🏆 A Decade of Contribution
Shakespeare's involvement with the FASB isn't new. She's been an active participant in the standard-setting process for over a decade. She served on the Financial Accounting Standards Advisory Committee (FASAC) and has been a member of the FASB Academic Resource Group since 2014. According to FASB Chair Richard R. Jones, her experience in researching and analyzing the effects of FASB standards on financial reporting transparency will bring a unique perspective to the board's activities.
📊 Why This Appointment Matters
The FASB is a crucial player in the world of accounting, setting standards that affect public and private companies, as well as not-for-profit organizations. Shakespeare's appointment is expected to enhance the board's deliberations with her deep understanding of accounting principles and financial transparency. As someone who has been closely involved in the standard-setting process, her insights will be invaluable in shaping the future of financial reporting.
