The Financial Accounting Foundation Appoints Susan M. Phillips, Dean of The George Washington University School of Business and Former Federal Reserve Governor, to FAF Board of Trustees.NORWALK, Conn. -- Robert J. DeSantis, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the Financial Accounting Foundation (FAF), today announced that Susan M. Phillips has been appointed to the FAF Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. . Dr. Phillips is Dean of The George Washington University George Washington University, at Washington, D.C.; coeducational; chartered 1821 as Columbian College (one of the first nonsectarian colleges), opened 1822, became a university in 1873, renamed 1904. (GW) School of Business, where she also is a professor of finance. Dr. Phillips is a former member of the Board of Governors of the Federal Reserve System Board of Governors of the Federal Reserve System The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply. and former chair of the Commodities Futures Trading Commission. Dr. Phillips has been Dean and Professor of Finance at the GW School of Business since 1998. Her area of specialization includes monetary policy, regulation and supervision of financial institutions, derivatives, financial management, and economic theory of regulation. She serves on the Boards of Directors of the State Farm Mutual Automobile Insurance Company, the Kroger Company, the Chicago Board of Options Exchange, and the National Futures Association National Futures Association (NFA) The futures industry self-regulatory organization established in 1982. . "We are very pleased to appoint Susan Phillips to the FAF Board of Trustees," said Robert E. Denham, Chairman of the FAF Board of Trustees. "Susan joins the FAF with distinguished academic and professional credentials and superb insight into the functioning of our economy. She will be a valued resource to the FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). and GASB in their mission to improve financial reporting." Prior to joining GW in 1998, Dr. Phillips was a member of the Board of Governors of the Federal Reserve System from December 1991 through June 1998. Before that, she served as Vice President for Finance and University Services and as Professor of Finance at the University of Iowa. In 1981, Dr. Phillips was appointed to membership on the Commodity Futures Trading Commission The Commodity Futures Trading Commission (CFTC), the federal regulatory agency for futures trading, was established by the Commodity Futures Trading Commission Act of 1974 (88 Stat. 1389; 7 U.S.C.A. 4a), approved October 23, 1974. , becoming chair of that organization in 1983. Dr. Phillips is the winner of several awards for her research, including the Chicago Board of Options Exchange Pomerance Prize for outstanding research in options. She also has served as a Brookings Economic Policy Fellow and as an SEC Economic Policy Fellow. The FAF Board of Trustees is comprised of 16 members: 3 with experience as certified public accountants, 2 as financial executives, 1 as an investment professional, 1 as an accounting educator, 1 as an investment banker, 3 as state and local governmental officials, and 5 "at-large" Trustees. Dr. Phillips will serve as an "at-large" Trustee. Nominating organizations to the FAF include the American Institute of Certified Public Accountants With over 330,525 CPA members (in August 2006), the American Institute of Certified Public Accountants (AICPA) is the largest professional organization of Certified Public Accountants (CPAs) in the United States of America. (AICPA AICPA See American Institute of Certified Public Accountants (AICPA). ), Financial Executives International (FEI), the Institute of Management Accountants The Institute of Management Accountants (IMA) is a professional organization headquartered in Montvale, New Jersey consisting of over 70,000 members worldwide. The IMA is dedicated to advancing the role of the management accountant and financial manager within the business , (IMA), the CFA Institute, the American Accounting Association, the Securities Industry Association (SIA), the National Association of State Auditors, Comptrollers, and Treasurers (NASACT), and the Government Finance Officers Association (GFOA). Other FAF Trustees include: Robert E. Denham Chairman, FAF Senior Partner Munger, Tolles & Olson LLP Frank C. Minter Vice President, FAF Retired Vice President and Chief Financial Officer AT&T International Douglas R. Ellsworth Secretary and Treasurer, FAF Director of Finance Village of Schaumburg, Illinois W. Steve Albrecht Associate Dean of the Marriott School of Management and Professor Brigham Young University Philip D. Ameen Vice President and Comptroller General Electric Company Rick Anderson Chairman Moss Adams LLP William H. Hansell Executive Director Emeritus International City/County Management Association Timothy P. Flynn Chairman and CEO KPMG LLP Richard D. Johnson Former Auditor of State, Iowa Edward W. Kelley, Jr. Retired Governor Federal Reserve System Duncan M. McFarland Former Chairman and Chief Executive Officer Wellington Management Company Lee N. Price President and Chief Executive Officer Price Performance Measurement Systems, Inc. James H. Quigley Chief Executive Officer Deloitte & Touche USA LLP Ned V. Regan University Professor The City University of New York Paul C. Wirth Global Controller Morgan Stanley About The George Washington University School of Business GW's School of Business prepares students for professional management careers. The depth and variety of its academic and professional programs, including five specialized master's programs, provide rich opportunities for students in the school's core Bachelor of Business Administration “BBA” redirects here. For other uses, see BBA (disambiguation). The Bachelor of Business Administration (BBA) is a bachelor's degree in business studies. , Master of Business Administration, and doctoral programs. GW's undergraduate- and graduate-level international business programs rank among the world's best. To learn more about the GW School of Business, visit www.business.gwu.edu. About the Financial Accounting Foundation The FAF is responsible for the oversight, administration, and finances of both the Financial Accounting Standards Board Financial Accounting Standards Board (FASB) Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). (FASB) and its counterpart for state and local government, 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. (GASB). The Foundation also is responsible for selecting the members of both Boards and their respective Advisory Councils. |
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