Russ Golden has been appointed to a second term as chairman of the Financial Accounting Standards Board, and two new members have been appointed to fill terms that will expire in mid-2017.
The Financial Accounting Foundation reappointed Golden to remain chairman of FASB for a second term to begin in mid-2017 and expire in mid-2020. That will give him the opportunity to see major standards around revenue recognition, leases, and financial instruments, including credit losses, finalized under his leadership take effect during his term.
The Financial Accounting Foundation, which oversees FASB, also appointed two new members, Marsha Hunt and Harold Monk Jr., to replace board members Larry Smith and Daryl Buck, whose terms expire in mid-2017.
Golden was appointed to FASB in 2010 after serving as technical director. He was appointed chairman upon the departure of Leslie Seidman in 2013.
Hunt is vice present and corporate controller at Cummins Inc., where she manages compliance with Sarbanes-Oxley, external reporting, consolidation, finance systems, accounting policy, government contract compliance, accounting functions, and insurance risk management. She is a current member of FASB’s Financial Accounting Standards Advisory Council and Financial Executives International, including its Committee on Corporate Reporting.
Monk, a partner at audit firm Carr, Riggs & Ingram, currently is a member of FASB’s Private Company Council, which recommends accounting standards for non-public entities. He also is a certified fraud examiner.
The pending changes in FASB’s composition follow the departure this year of Tom Linsmeier, whose term ended in mid-2016, replaced by Christine Ann Botosan.