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August 21, 2019

New appointments at the Financial Accounting Foundation

The board of trustees of the Financial Accounting Foundation (FAF) has appointed Holly Nelson and Zubin Avari to the Private Company Council (PCC), each for a three-year term. The Board of Trustees also reappointed current PCC members Yan Zhang and Richard Reisig to three-year terms. All four appointments are effective on 1 January 2020 and conclude on 31 December 2022.

Zubin Avari serves as a managing partner with Charter Oak Equity LP, located in Westport, CT while Holly Nelson is a director on the board of Silver Star Brands, Inc., of Oshkosh, WI, from which she retired as chief financial officer in April.

Richard Reisig is a shareholder and director, attest services, at Anderson ZurMuehlen & Company, P.C., in Great Falls, MT. Yan Zhang is a partner at EisnerAmper LLP in New York, NY.

“The Financial Accounting Standards Board (FASB) benefits greatly from the diverse perspectives found among PCC members,” said Charles H. Noski, chairman of the FAF Board of Trustees. “With these appointments and reappointments, we continue to bring outstanding talent and thoughtful points of view to the task of serving private company stakeholders well.”

The PCC, which can comprise 9 to 12 members, currently consists of 11 members from financial statement user, preparer, and practitioner backgrounds. FASB member Susan M. Cosper serves as the FASB’s official liaison with the PCC and attends all PCC meetings.

The FASAC advises the Financial Accounting Standards Board (FASB) on strategic and technical issues, project priorities, and other matters that affect standard setting.  Morrow joined the FASAC in January 2019.  His initial two-year term as chair begins 1 January  2020, when he will succeed Andrew G. McMaster Jr., who has served as FASAC chair since 2016 and is stepping down at the end of the year.

Morrow currently serves as a director of Cabot Corporation, a Fortune 1000 global chemical company, where he also chairs the audit committee.  A certified public accountant, he worked for PwC for nearly 40 years and held numerous leadership positions within the firm. He advised a wide range of clients, including many Fortune 100 companies across several sectors, as well as private companies and non-profit organisations.

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