The Financial Accounting Foundation (FAF) is the independent, private-sector organization with responsibility for the oversight, administration, and finances of its standard-setting Boards, the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB), and their Advisory Councils. The FAF is seeking a highly qualified individual with substantial experience as a full professor of accounting to fill one of the seven seats on the GASB. The GASB is comprised of members with experience as state and local government financial statement auditors and preparers, a governmental financial statement user, a public accounting auditor, and a governmental accounting academic. The background and perspective of a full professor of accounting is important to the success of the GASB.
Through its standard-setting boards, the organization establishes and improves financial accounting and reporting standards—known as Generally Accepted Accounting Principles, or GAAP—for public and private companies, not-for-profit organizations, and state and local governments in the United States. The FAF Board of Trustees selects and appoints the members of the FASB and the GASB and protects the independence and integrity of the standard-setting process. The FAF, FASB, and GASB are located in Norwalk, Connecticut.
The part-time GASB Board position is equivalent to one-third of a full-time position. The successful candidate must be able to commit to a meeting every six weeks typically held from Tuesday through Thursday (noon) in Norwalk, Connecticut. Significant preparation is required prior to each Board meeting. The full recruitment brochure is available at GovHRUSA.com. The salary for this position is highly competitive; travel expenses and accommodations for the meetings are paid for by the FAF. Apply electronically with resume, cover letter and contact information for five references to www.govhrjobs.com by October 25, 2019 to Heidi Voorhees, President, GovHR USA. Tel: 847-380-3243. Email: HVoorhees@GovHRUSA.com
In order to maintain the composition of the Board, substantial employment experience as a full professor of accounting is required. Experience and a background in governmental accounting is required.
A PhD or DBA from an accredited college or university is required.
Being a Certified Public Accountant or having other professional certifications is desirable but not mandatory.
Being an active participant in related professional associations is desirable, but not mandatory.
The successful candidate will demonstrate:
Knowledge of state and local government financial accounting and reporting. A candidate should have knowledge of financial accounting and reporting for the state and local government organizations included under the GASB jurisdiction.
Commitment to operate as an advocate for the public interest. A candidate should be free of conflicts of interest (employment by a college or university is allowed) and should be an advocate for the public interest with the goal of producing the highest possible quality of standards that serve the current needs of users.
High level of intellect applied with integrity and with discipline. The Board deals with controversial, complex issues. High intelligence helps in absorbing a variety of complicated information and in understanding the pros and cons of the arguments advanced. Intelligence must be used with discipline, that is, with objectivity, logic and concentrated energy.
Judicial temperament. This quality implies the ability to consider impartially the evidence on all the many sides of the issues, to call for additional evidence if that seems necessary, and then to reach a decision within a reasonable period of time. The heart of this quality is the habit of gathering all evidence, weighing the pros and cons of the arguments, and making timely decisions. Bias or partiality is foreign to judicial temperament. Decisiveness is also part of judicial temperament.
Ability to work in a collegial atmosphere. The GASB is a collegial body, characterized by group decision making. Give-and-take is required among the decision makers in order to arrive at timely, workable solutions to problems. A collegial process can work effectively only if individual members are tactful, respectful of one another’s views, and mindful of the need to agree on workable, rather than ideal, solutions to problems.
Communication skills. Board members should be able to communicate effectively in both oral and written form. Oral communication includes discussion in Board meetings, dialogue with fellow Board members and the technical staff, speeches, and other contacts with persons outside the GASB. Written communication includes internal memoranda, speeches, articles, and correspondence with constituents. All of these kinds of communication require thought, tact and clarity of expression.
Awareness of the state and local government financial reporting environment. The GASB deals with technical accounting issues, but its decisions must be made in the context of trends and events in the government and financial community as a whole and in the context of the needs of users of governmental financial reports. A member of the GASB should have a broad understanding of the environment in which government operates and the forces that impact that environment. Consideration will be given to a candidate’s understanding of the relationship between accounting and reporting standards and government operations, finance and public accountability.
Commitment to the GASB’s mission. A candidate for membership on the GASB should be committed to the Board’s mission as described in its mission statement and to the hard work required to fulfill it. A candidate should understand the role of due process, the need for consensus-building in the promulgation of standards, and a commitment to the goals of the GASB’s strategic plan. The member should believe in the importance of the Board’s work. The key words here may be dedication with discretion. That is, the member should be devoted to the overriding objectives of the GASB and sensitive to the concerns of the GASB’s stakeholders.