News Release 02/25/19

New Members Appointed to Financial Accounting Standards Advisory Council and Investor Advisory Committee


Norwalk, CT, February 25, 2019—The Financial Accounting Foundation (FAF) and the Financial Accounting Standards Board (FASB) today announced the appointment of new members to the Financial Accounting Standards Advisory Council (FASAC) and the Investor Advisory Committee (IAC).

The FAF Board of Trustees appointed Karen J. Garnett, a partner in the corporate department and a member of the capital markets group at Proskauer Rose, to the FASAC.

The FASAC advises the FASB on strategic and technical issues, project priorities, and other matters that affect standard setting. Its members provide the FASB with diverse perspectives informed by their varied business and professional backgrounds.

The FASB appointed two new members to its IAC: Nichole Burnap, a forensic accounting analyst with Glenview Capital, and Mark Hamel, owner of Assay Research.

The IAC works closely with the FASB to ensure that investor perspectives are effectively communicated to the FASB during the development of accounting standards. It advises FASB in two primary areas, including broad topics on the FASB’s agenda as well as emerging trends.  IAC membership includes a mix of buy-side and sell-side investors, credit and equity firms, and ratings agencies.

“The FASB is pleased to welcome Karen Garnett, Nichole Burnap, and Mark Hamel to their new roles,” stated FASB Chairman Russell G. Golden. “Ms. Garnett’s expertise in SEC and regulatory matters under the federal securities laws will enhance the robust input the FASAC provides to the FASB.”

Mr. Golden added, “Ms. Burnap and Mr. Hamel each brings to the IAC unique investor experiences and perspectives as well as a strong commitment to improving financial reporting. We look forward to their contributions to future IAC discussions.”

For more information about the FASAC, the IAC, and their respective activities, visit www.fasb.org.


About the Financial Accounting Standards Board

Established in 1973, the FASB is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit www.fasb.org.