George Scott Appointed to FASAB Chair
The chair of the Federal Accounting Standards Advisory Board (FASAB or “the Board”), D. Scott Showalter, announced today that George Scott has been appointed to serve as chair of the Board beginning July 1, 2019. Mr. Scott’s term will conclude on December 31, 2020, with the option for another five-year term.
An Appointments Panel—composed of the FASAB chair, the three federal FASAB members, and three individuals representing the American Institute of CPAs and the Financial Accounting Foundation—advises the FASAB sponsors on appointments and re-appointments for the six nonfederal members of the Board including selection of the chair. The Sponsors—Steven T. Mnuchin, the Secretary of the Treasury; Mick Mulvaney, the Director of the Office of Management and Budget; and Gene L. Dodaro, the Comptroller General of the United States, made the final appointment.
Mr. Scott’s service on the Board began on January 1, 2016. He is a retired partner of Deloitte LLP. With more than 39 years of experience at Deloitte, Mr. Scott has been actively involved in industry organizations, ranging from member to chairman, at the national and regional level and is a nationally sought after speaker. Mr. Scott is a CPA and a CGFM.
Regarding Mr. Scott’s selection, Mr. Showalter said, “The Sponsors have made an excellent appointment. Under Mr. Scott’s leadership, the Board will continue to make important progress addressing the significant accounting and reporting issues shaping the federal government today and into the future.”
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