Financial Accounting Foundation names Schroeder to lead review of accounting standards | AccountingWEB

Financial Accounting Foundation names Schroeder to lead review of accounting standards

The Financial Accounting Foundation (FAF) has announced that Mark Schroeder, a recently retired senior partner at Deloitte & Touche LLP, has been named post-implementation review leader.

Schroeder will assume responsibility for the development, implementation, and management of the post-implementation review of standards and other authoritative pronouncements issued by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). He will report to Teresa S. Polley, FAF president.
 
“I am delighted to have the opportunity to lead the FAF’s post-implementation review process,” Schroeder told AccountingWEB.
 
“It’s extremely important to have the most complete understanding possible of whether issued standards are meeting their objectives, and this process will enable us to better understand the effects of standards once they are in place," he said. "We welcome involvement from advisory groups and other constituents in what will be an ongoing review process for both the FASB and GASB.”
 
During his extensive career with one of the nation’s top accounting firms, Schroeder has provided audit and advisory services for both domestic and multinational enterprises in a number of diverse industries, including banking, media, telecommunications, publishing, retail, cable, and broadcasting. He is a graduate of the University of Florida.
 
“I am very pleased to welcome Mark Schroeder to our organization in this important new role. The post-implementation review of accounting standards is of paramount importance to our Board of Trustees in its oversight of the standard-setting process, as well as to our constituents," Polley said. "With 40 years of diverse accounting and financial experience, Mark brings a broad background and perspective to this function, which will further enhance the independent standard-setting process of both Boards.”
 
About the Financial Accounting Foundation:
The FAF is responsible for the oversight, administration, and finances of both the Financial Accounting Standards Board (FASB) and its counterpart for state and local government, the Governmental Accounting Standards Board (GASB). The Foundation is also responsible for selecting the members of both Boards and their respective Advisory Councils.
 
Related articles:
Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.