Going Concern Disclosures Consultative Group Formed—May 2016A consultative group has been assisting the Board’s research in the reexamination of the going concern provisions of Statement No. 56, Codification of Accounting and Financial Reporting Guidance Contained in the AICPA Statements on Auditing Standards. These members were appointed by GASB Chair David A. Vaudt. The consultative group members are:
- Kelly Collins, Director of Local Audit, State of Washington Auditor's Office
- Sharon Edmundson, Director, Fiscal Management Section, State and Local Government Finance Division, North Carolina
- Kathleen Evers, Managing Director, Municipal Credit Team, Piper Jaffray & Co.
- Anne Fritz, Finance Director, City of St. Petersburg, Florida
- Melinda Gildart, Chief Financial Officer, Illinois Finance Authority
- Patrick Goldsmith, Director, House Fiscal Division, Louisiana
- Thomas Hamilton, Chief Financial Officer, Norwalk Public Schools
- Jennifer Johnston, Vice President/Research Analyst, Franklin Templeton Investments
- Anna Maria Kiehl, Chief Accounting Officer, Commonwealth of Pennsylvania
- Ed Magee, Vice Chancellor for Finance, West Virginia Higher Education Policy Commission
- Craig Maher, Professor, Public Administration, Public Affairs and Community Service, University of Nebraska-Omaha
- Terri T. Newsom, Vice President and Chief Financial Officer, Greenville Health System
- Dan O’Keefe, Shareholder-in-Charge, Governmental Practice Group, Moore Stephens Lovelace, P.A.
- Marc Panucci, Partner, PricewaterhouseCoopers
- Mark Pepera, Chief Financial Officer/Treasurer, Westlake City School District, Ohio
- Jim Pyers, Senior Performance Project Manager, Ohio Auditor of State
- Tracey Rash, Vice President, Maher Duessel Certified Public Accountants
- Doug Ringler, Auditor General, State of Michigan
- Eric Scorsone, Director and Associate Professor, Extension Center for Local Government Finance and Policy, Michigan State University
- Sarah Wetmore, Vice President/Research Director, The Civic Federation.
What Do Consultative Groups Do?
The GASB assembles consultative groups at the discretion of the GASB chair for pre-agenda research that is expected to be extensive and to address a broad or fundamental portion of the accounting and financial reporting standards. Consultative groups serve as a sounding board, providing suggestions and feedback to the GASB staff as research activities progress. As part of this process, consultative group members review drafts of research materials prepared by the GASB staff, commenting as appropriate.
How Are Participants Selected?
Consultative groups are officially appointed by the GASB chair. Consultative group members typically have a particular expertise or experience with the issue being researched and also are capable of articulating the views of other, similar stakeholders.
Members primarily are identified from the GASB’s database of stakeholders, including persons who have indicated a willingness to volunteer for a consultative group. The GASB attempts to maintain an appropriate balance of financial statement preparers, auditors, and users on each consultative group.
Within each group, the GASB seeks to include a variety of types of stakeholders, such as finance officers from state governments, localities, and business-type activities; auditors in government and private practice; and users from the municipal bond industry, citizen and taxpayer groups, legislative bodies, and the academic community. The GASB also tries to balance other factors that may be relevant, such as governments of various sizes and geographic areas of the country.