🏦 The Search Begins

The Financial Accounting Foundation (FAF) has announced that it is seeking nominations for new members of the Private Company Council (PCC). The selected candidates will serve three-year terms starting from January 1, 2026, with the possibility of reappointment for another three years. The PCC plays a crucial role in advising the Financial Accounting Standards Board (FASB) on appropriate accounting treatments for private companies.

🌟 Who They’re Looking For

The FAF Board of Trustees' Appointments Committee is on the lookout for candidates with diverse backgrounds and experiences. Ideal candidates should have a keen interest in financial accounting and reporting matters affecting private companies, experience in preparing private company financial statements, and a commitment to improving financial reporting.

📋 Criteria for Nomination

The Appointments Committee seeks nominations across several categories:

• Preparers of private company financial statements from various industries
• Users of private company financial statements, including bank lenders, sureties, and venture capital investors
• CPA practitioners from national, regional, and local firms
• Academics with expertise in private company financial reporting

📅 How to Apply

Interested in applying or know someone who would be a perfect fit? Nominations are open until May 29, 2025. Instructions for applying can be found on the FAF website. The Appointments Committee has an evergreen nomination process, so if you miss this round, there are always future opportunities.