FAF Names New PCC Chair

FAF Names New PCC Chair

The Financial Accounting Foundation has named Candace Wright as the next chair of the Private Company Council.

Wright, a director with Top 100 Firm Postlethwaite & Netterville, will succeed the founding chair, Billy Atkinson, when his term ends on Dec. 31, 2015, and serve a three-year term. The PCC determines alternatives to existing nongovernmental GAAP to address the needs of users of private company financial statements.

In addition to serving as service line leader for P&N’s Assurance Services Group and as the firm’s quality control director, she leads its Financial Institutions Industry Group and peer review services.

She also serves as a member of the Small Business Advisory Committee, which advises the Financial Accounting Standards Board on financial accounting and reporting issues that impact small businesses, and as a member of the Practice Monitoring of the Future Task Force of the American Institute of CPAs, and the Society of Louisiana CPA’s Financial Institutions Committee. Previously, she served as the chair of the AICPA Technical Issues Committee, and as a member of the Governmental Audit Quality Center’s Executive Committee.

“Candace Wright is a dynamic leader who will bring to the PCC a deep understanding of the accounting issues that affect private companies across a broad range of industry sectors,” said Jeffrey Diermeier, chairman of the FAF Board of Trustees. “Her experience on the SBAC will lend valuable insight to the PCC as it works with the FASB to address these issues, especially those that affect smaller private companies.”  Read more on Accounting Today.