The Chairman of the Federal Accounting Standards Advisory Board (FASAB), Tom
Allen, announced today that Michael H. Granof and D. Scott Showalter have been
reappointed to the Board. Michael's second five-year term began on July 1, 2014 and
will conclude on June 30, 2019.
An Appointments Panel—composed of the FASAB chairman, 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. The Sponsors—Jacob
Lew, the Secretary of the Treasury; Brian Deese, the Acting Director of the Office of
Management and Budget; and Gene L. Dodaro, the Acting Comptroller General of the
United States, made the final appointments.
Dr. Granof is the Ernst & Young Distinguished Centennial Professor of Accounting and a
University Distinguished Teaching Professor at the McCombs School of Business at the
University of Texas at Austin. Dr. Granof also serves as a member of the Governmental
Accounting Standards Board.
Regarding the appointments, Chairman Allen said, “I look forward to continuing to work
with both Michael and Scott on the Board. Michael’s understanding of financial reporting
for both government and non-governmental entities combined with his service on the
GASB ensure he will provide valuable insights to the Board. Scott, a recognized leader
in the field, brings a depth of knowledge of both audit and accounting issues rarely seen.
I am pleased that both Michael and Scott will continue to support the Board in its work
on critical federal financial reporting issues.”