Paul Beswick, a partner with Ernst & Young and former chief accountant for the Securities and Exchange Commission, and Robert Malhotra, partner at KPMG, have been named to the Emerging Issues Task Force (EITF) of the Financial Accounting Standards Board (FASB).
Beswick is a partner within Ernst & Young assurance services practice, where he is involved in accounting and regulatory matters, audit quality initiatives, interactions with standard setters, and process improvement initiatives. Prior to joining Ernst & Young, he served as the chief accountant for the SEC. Beswick will serve a five-year, renewable term beginning Nov. 12, 2015, replacing Jackson Day of Ernst & Young.
Malhotra is co-partner in charge of KPMG practice advisory and SEC group in its Department of Professional Practice, which is responsible for providing accounting, financial reporting and SEC practice support. Prior to rejoining KPMG, he served as global head of financial reporting and accounting policy at American International Group. Malhotra will serve a five-year, renewable term beginning Sept. 17, 2015, replacing Mark Bielstein of KPMG.
The EITF assists the FASB in improving financial reporting through the timely identification, discussion, and resolution of financial accounting issues. Members of the EITF are chosen from a cross section of the FASB’s constituents, including public accounting firms, preparers of financial statements, and users of financial statements. More information on the EITF, including current members, agenda, and meeting schedule, can be found here.