Directors of the Financial Accounting Foundation reappointed Candace Wright for a third two-year term as chair of the Private Company Council, and added David Pesce as a member of the CPC for a three-year term.
The two new terms will begin on January 1, 2022.
Director of the Top 100 Firm Postlethwaite & Netterville, Wright has been Chairman of the CPC since January 2016.
“For the past five plus years, Candy Wright has led the CCP with distinction, demonstrating a deep commitment to its mission and partnership with the FASB,” FAF President Kathleen Casey said in a statement. “I am pleased that she has agreed to continue in this vital role for an additional two-year term.”
Pesce is Surety Manager for Munich Re Specialty Insurance and has over 35 years of financial reporting experience.
“We are delighted to welcome Mr. Pesce to the CCP,” Casey said. “He brings unique experience in the surety and construction industries, and we look forward to his contribution to the group’s discussions with the FASB. “
The PCC advises the Financial Accounting Standards Board (which the FAF oversees) on the impact of accounting standards on private companies and the particular financial reporting problems they face. It currently has 11 members drawn from the communities of users, preparers and practitioners of financial statements.
In addition, the FAF has appointed Elizabeth Pearce as the next chair of the Governmental Accounting Standards Advisory Council, for a term starting January 1, 2022.
Pearce, who is currently Vermont State Treasurer, has been a member of GASAC since early 2021 and will succeed Robert Scott as President. Scott joined GASAC in 2011 and became President in 2015.
“It is a pleasure to welcome Beth Pearce as the new President of GASAC. She will play an important role in the GASB process, ”Casey said in a statement. “We would also like to thank our outgoing president, Robert Scott, for his time, expertise and contributions to the standard setting process. “
GASAC advises the Governmental Accounting Standards Board, which the FAF also oversees, on strategic and technical matters, project priorities and more.