Alicia A. Posta, Executive Director, Advisory Councils

Alicia A. Posta is the Executive Director of the Financial Accounting Standards Board (FASB) Advisory Groups. In this role, Ms. Posta serves as the primary administrator of the FASB’s activities with its stakeholder groups, who provide input into its decision-making processes. Those activities include periodic and ad hoc meetings between the FASB and members of other organizations and groups, as well as the activities of standing advisory groups, including:
  • Financial Advisory Accounting Standards Advisory Council (FASAC). FASAC is the FASB’s primary advisory group and was formed in 1973 concurrent with the establishment of the FASB. It consists of a diverse membership of financial statement users, preparers, and auditors representing a cross-section of industries
  • Investors Advisory Committee (IAC). The IAC was formed to provide technical accounting advice to the FASB, from the investors’ perspective, on current and potential FASB agenda projects. It consists of investors with strong technical accounting knowledge.
  • Not-for-Profit Advisory Committee (NAC). The NAC was established to serve as a standing resource for the FASB in obtaining input from the not-for-profit sector on existing guidance, current and proposed technical agenda projects, and longer-term issues affecting those organizations. It includes a mix of individuals that use not-for-profit financial statements to make lending, granting, and other resource allocation decisions; individuals that prepare financial statements for not-for-profit organizations; and auditors of not-for-profit financial statements.
  • Small Business Advisory Committee (SBAC). The SBAC was formed to increase the opportunities for small business community members to share their ideas, knowledge, and experience with the FASB, as well as with the other group members. It consists of approximately 20 members that are users, preparers and auditors from the small business community.
Prior to her involvement with the FASB advisory groups, Ms. Posta was a project manager for the FASB. Ms. Posta joined the FASB staff in May 2001 and has primarily worked on the FASB’s projects on business combinations, mergers and acquisitions by a not-for-profit organization, income taxes, and revenue recognition.

Ms. Posta previously worked for Ernst & Young in Stamford, Connecticut where she was a Senior Auditor in the Assurance and Advisory Business Services Department. A New England native, Ms. Posta received her Bachelor’s degree in Business Administration, with a concentration in accounting, from Bryant College (now Bryant University) in Rhode Island