The Financial Accounting Standards Board (FASB) has announced the appointment of Kimber Bascom, partner-in-charge of the Accounting Standards Group of KPMG’s Department of Professional Practice, and Lawrence Dodyk, an assurance partner in PwC’s National Professional Services Group, to the Emerging Issues Task Force.
The Emerging Issues Task Force (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.
Bascom leads the development of KPMG’s policies, guidance, training, publications, and other materials on U.S. accounting and financial reporting matters provided to audit engagement teams and clients. As KPMG’s Global Leasing Standards Leader, he also leads the development of the international firm’s guidance and policies on the application of U.S. and international financial reporting standards to leasing transactions.
Dodyk, as a member of PwC’s National Professional Services Group, works closely with the firm’s engagement teams and clients in addressing complex accounting issues and is responsible for determining PwC’s position on accounting and financial reporting matters including proposed standards from the FASB, the IASB, and other standard setters. Dodyk is also the U.S. leader of PwC’s global Business Combinations group and is a primary author of several of the firm’s technical guidance and thought leadership publications.
Bascom, who will join the EITF effective immediately, will replace current EITF member Robert Malhotra. Dodyk, who will join the EITF beginning with the June 8, 2017. EITF meeting, will replace current EITF member John Althoff, whose term ends after the March 16, 2017 EITF meeting.
More information on the EITF, including current members, agenda, and meeting schedule, can be found here.