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Accounting

FASB Selects 11 Professionals to Sit on Emerging Issues Task Force

Based on feedback from stakeholders, the FASB recently revised the EITF's membership makeup and operating procedures.

Jason Bramwell

Apr. 08, 2024

The Financial Accounting Standards Board (FASB) on April 3 named 11 members to its newly reconstituted Emerging Issues Task Force (EITF).

The task force, formed in 1984, assists the FASB in improving financial reporting by identifying and developing proposed solutions to address narrowly scoped financial accounting issues within the framework of the FASB Accounting Standards Codification.

“During our recent agenda consultation, stakeholders suggested potential improvements to enhance the efficiency of the interpretive process and more effectively utilize the resources of this talented group of professionals,” FASB Chair Richard Jones said in a statement. “Based on that feedback, we revised the EITF’s membership makeup and operating procedures in ways aimed at achieving those objectives and maintaining the transparency that is critical to the group’s process.”

The members of the reconstituted EITF are:

  • Thomas Barbieri, Chief Accountant, PwC LLP
  • Paul Beswick, Chief Accountant, Ernst & Young LLP
  • Jack Ciesielski, President, R.G. Associates
  • David Gonzales, Vice President—Senior Accounting Analyst, Moody’s Investors Service, Inc.
  • Robert Malhotra, Chief Accountant, KPMG LLP
  • Kevin McBride, Corporate Controller and Chief Accounting Officer, ServiceNow
  • Dan Palomaki, Managing Director, Citigroup
  • Jeremy Perler, Managing Partner, Schilit Forensics
  • Matthew Schell, Chief Accountant, Crowe LLP
  • Kate Sturgess, Controller and Chief Accounting Officer, American Electric Power
  • Curt Weller, Chief Accountant, Deloitte & Touche LLP.

As part of its new operating procedures, the EITF will have the ability to manage its own agenda and accept potential agenda requests directly from external stakeholders, the FASB said. By majority vote of its members, the EITF will provide recommendations to the FASB to:

  • Add projects to the FASB’s technical agenda, and
  • Offer recommended solutions for the board’s consideration.

The FASB plans to host an EITF meeting in June.