On Sept. 10, the Financial Accounting Standards Board (FASB) announced the appointment of three new members to the Emerging Issues Task Force (EITF). EITF assists FASB in improving financial reporting through the timely identification, discussion and resolution of financial accounting issues.
Larry Salva, Comcast Corp
Among the new members is FEI member Larry J. Salva, senior vice president, chief accounting officer and controller of Comcast Corp. He will begin his term on the EITF on Nov. 1, 2012. Salva serves on FEI's Committee on Corporate Reporting (CCR) and has served as the committee's chair.
The other members appointed to the EITF are Terri Z. Campbell, CFA, a managing director with Liberty Mutual Group Asset Management Inc., and Jackson Day, the Americas director of accounting standards setting for Ernst & Young LLP.
Then, on Sept. 19, the Board of Trustees of the Financial Accounting Foundation (FAF) appointed the chair and members of the Private Company Council (PCC). The PCC is a new body that will work with FASB to determine whether and when to modify U.S. generally accepted accounting principles (U.S.GAAP) for private companies.