🔄Financial Accounting Foundation Reappoints Two Key Members to Private Company Council
The Financial Accounting Foundation just announced that Michael Cheng and Katina Curtis will be serving another three years on the Private Company Council. Their reappointment ensures continued expertise and leadership for private company accounting standards.
Key Points
- •📅 New Terms: Michael Cheng and Katina Curtis will serve from January 1, 2026, to December 31, 2028.
- •🌟 Key Players: Michael Cheng of Frazier & Deeter, LLC and Katina Curtis of Grant Thornton, LLP.
- •📊 Expertise: Cheng focuses on technical accounting and advisory, while Curtis has broad experience with both public and private clients.
- •🗣️ Voices of Authority: FAF Board Chair Edward C. Bernard and FASB Member Susan M. Cosper emphasize the importance of their contributions.
- •🔗 PCC's Role: The PCC advises the FASB on accounting standards for private companies, ensuring GAAP alternatives meet stakeholder needs.
🔍 The Big News
The Financial Accounting Foundation (FAF) has reappointed two heavyweights in the accounting world to the Private Company Council (PCC). Starting January 1, 2026, Michael Cheng and Katina Curtis will continue to bring their expertise to the table for another three years. This decision highlights the importance of consistent leadership in overseeing private company financial standards.
🌟 Meet the Experts
Michael Cheng, a national professional practice partner at Frazier & Deeter, LLC in Atlanta, specializes in technical accounting and advisory. He’s the go-to guy for complex financial reporting issues like revenue recognition and lease accounting. Katina Curtis, on the other hand, is an audit partner at Grant Thornton, LLP and the managing partner of their Salt Lake City market. She has extensive experience with both public and private clients, including large family-owned businesses and private equity portfolio companies.
🗣️ What the Bigwigs Are Saying
FAF Board Chair Edward C. Bernard had nothing but praise: > "Michael and Katina have brought their unique perspectives and voices to the PCC. The Trustees look forward to their continued participation." FASB Member Susan M. Cosper chimed in, adding: > "Their insights and perspectives are vital to the PCC’s work in advising the FASB. I look forward to continuing to work with them."
🔗 Why the PCC Matters
The PCC isn’t just a fancy title. This council plays a crucial role in advising the FASB on the right accounting treatments for private companies. They also help suggest GAAP alternatives that meet the unique needs of private company financial statement users. With 12 members from diverse backgrounds, the PCC ensures that all voices are heard in the standard-setting process.