New appointments at FAF.The Financial Accounting Foundation, which oversees and appoints members of the Financial Accounting Standards Board Financial Accounting Standards Board (FASB) Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). and the Governmental Accounting Standards Board The Governmental Accounting Standards Board (GASB) is currently the source of generally accepted accounting principles (GAAP) used by State and Local governments in the United States of America. , announced FAF officers elections as well as new appointments for each board's advisory council. The advisory groups consult with the boards on agendas and other issues. New officers. J. Michael Cook, chairman and chief executive officer of Deloitte & Touche, was reelected chairman of the board of trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. and president of the FAF for 1997. He has been a trustee since 1990. Thomas E. Jones, executive vice-president of Citicorp, was reelected vice-president. Philip N. Duff, chief financial officer of Morgan Stanley Group, was elected secretary and treasurer. New FASAC FASAC Financial Accounting Standards Advisory Council members. Serving one-year terms on the Financial Accounting Standards Advisory Council are Lynn E. Browne, Federal Reserve Bank of Boston The Federal Reserve Bank of Boston is responsible for the First District of the Federal Reserve, which covers Connecticut (excluding Fairfield County), Massachusetts, Maine, New Hampshire, Rhode Island and Vermont. It is headquartered in Boston, Massachusetts. ; John T. Ciesielski, Jr., R. G. Associates, Marc D. Hamburg, Berkshire Hathaway; Karen N. Horn, Bankers Trust Co.; L. White Matthews III, Union Pacific Corp.; Margaret D. Moore, PepsiCo, Mark W. Osterberg, Northwest Airlines; John M. Preis, YMCA of Greater New York; Ann N. Reese Ann N. Reese is the Executive Director of the Center for Adoption Policy, and a corporate director of the CBS Corporation. • • , ITT Corp.; and Robert Willens, Lehman Brothers. New GASAC members. Serving one-year terms on the Governmental Accounting Standards Advisory Council are John Brosius, Pennsylvania Employees, Retirement System; Sam M. McCall, deputy state auditor general, Florida, Robert M. Reardon, Jr., State Farm Insurance Co.; and Robert V. Stout, city controlller, Stamford, Connecticut. |
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