Board Member, Part-Time (Academic Background)

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. 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 is a non-stock Delaware corporation that operates exclusively for charitable, educational, scientific, and literary purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code. The FAF, FASB, and GASB are located in Norwalk, Connecticut.

The FAF is seeking a highly qualified individual with substantial recent experience as a tenured 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 tenured professor of accounting are important to the success of the GASB.

Background and Experience

• Substantial recent employment experience as a tenured professor of accounting is required. Experience and a background in governmental accounting are required.
• A PhD or DBA from an accredited college or university is required.
• Holding a Certified Public Accountant designation or having other professional certifications or advanced degrees in business administration, public administration, or a related field is desirable, but not mandatory.
• Being an active participant in related professional associations is desirable, but not mandatory.

Qualifications

The successful candidate will demonstrate:

• Knowledge of state and local government financial accounting and reporting. A candidate should have knowledge of, and experience with, 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. Candidate demonstrates the discipline of gathering all evidence, weighing arguments, and making timely decisions free of bias or partiality.
• 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 candidate should believe in the importance of the Board’s work, be devoted to the overriding objectives of the GASB, and be sensitive to the concerns of the GASB’s stakeholders.

Commitment for Part-Time Membership

The GASB meets in Norwalk, Connecticut, approximately nine times each year, generally every six weeks. Meetings are usually held on Tuesday, Wednesday, and Thursday (normally two and a half days, ending at noon on Thursday). A teleconference meeting is normally held in the middle of the six-week cycle (generally on a Monday or a Tuesday for a half day in the afternoon). To accommodate attendance at Governmental Accounting Standards Advisory Council GASAC and task force meetings, the GASB may meet on a Monday and conclude on Friday. Occasionally, GASAC and Task Force meetings may be held at times other than a GASB meeting week. Availability during meeting times is very important. A Board member is expected to attend all Board meetings and, therefore, should schedule all other activities so that those activities do not conflict with the Board meeting schedule. Board meetings normally are scheduled one year in advance. TENTATIVE 2022 Board meeting dates: January 25—27, March 8—10, April 19—-21, May 31—June 2, July 12—4, August 24—26, October 11—13, and November 16—18. Significant prior preparation is required to effectively participate in the Board meetings. In addition to the Board, GASAC, and task force meetings, there is also a requirement to attend public hearings and certain meetings of key stakeholder organizations.  These meetings might average four to six days a year.  The overall time commitment is considered equivalent to one third of a full-time position.


Equal Opportunity/ADA Employer

Additional information about the GASB can be found at the GASB’s website at www.gasb.org.


Compensation and Application Process

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.  Open until filled but to ensure consideration, please apply by July 15, 2021, to Heidi Voorhees, President, GovHR USA. Email:  HVoorhees@GovHRUSA.com