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FAF Trustees Appoint Susan M. Cosper to Financial Accounting Standards Board

NORWALK, Conn.–(BUSINESS WIRE)–The Board
of Trustees
of the Financial Accounting Foundation (FAF)
today announced the appointment of Susan
M. Cosper
to the Financial Accounting Standards Board (FASB).
Ms. Cosper currently serves as the FASB’s technical director and chair
of the Emerging Issues Task Force (EITF).
Her term is effective May 1, 2019, and her appointment runs through
June 30, 2024.


“On behalf of the FAF Board of Trustees, I am very pleased that Sue will
be joining the FASB as a member,” said Charles
H. Noski
, chairman of the FAF Board of Trustees. “As a true
collaborator, Sue has built an extensive network among the FASB’s
various stakeholder groups. She has a strong reputation among these
constituents as a strategic thinker and good listener in the pursuit of
better accounting standards.”

“Sue Cosper is an outstanding choice for the FASB and will make
significant contributions to the Board during her tenure,” said Russell
G. Golden
, FASB chairman. “Sue has been at the vanguard of the
FASB’s culture change to better incorporate private company and
not-for-profit perspectives throughout the standard-setting process.”

Golden added: “As the FASB’s technical director since 2011, she has been
intimately involved in every major Board activity and has served as a
mentor to the FASB staff. Sue’s deep knowledge of our standard-setting
process and her consideration of various stakeholder perspectives are
great assets for the Board.”

Prior to joining the FASB Ms. Cosper served as a partner with
PricewaterhouseCoopers LLP (PwC), most recently based in PwC’s Financial
Instruments, Structured Products, and Real Estate Group in New York
City. She worked before that at PwC offices in Florham Park, NJ
(National Office), Pittsburgh, PA and London, UK. She earned her B.S. in
accounting from Indiana University of Pennsylvania and is a certified
public accountant in New York, New Jersey, and Pennsylvania.

Ms. Cosper will succeed Harold L. Monk, Jr., who resigned from
the FASB in 2018.

Golden added that Ms. Cosper will serve as the official FASB liaison to
the Private
Company Council
, succeeding FASB member Marsha
Hunt
in that role.

About the Financial Accounting Foundation

Established in 1972, the Financial Accounting Foundation (FAF) is the
independent, private-sector, not-for-profit organization based in
Norwalk, Connecticut responsible for the oversight, administration,
financing, and appointment of the Financial Accounting Standards Board
(FASB) and the Governmental Accounting Standards Board (GASB). The FASB
and GASB establish and improve financial accounting and reporting
standards—known as Generally Accepted Accounting Principles, or GAAP—for
public and private companies, not-for-profit organizations, and state
and local governments in the United States. For more information, visit www.accountingfoundation.org.

About the Financial Accounting Standards Board (FASB)

Established in 1973, the FASB is the independent, private-sector
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.

Contacts

MEDIA:
Christine L. Klimek
(203) 956-3459
[email protected]

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