The technical director serves as the principal advisor to the FASB chairman and Board. The role is also the primary representative of the FASB to stakeholders, including regulators, accounting firms, companies, and investors in communicating FASB staff views on technical accounting matters. Reporting to the FASB chairman, this role includes leading and managing the FASB’s 70-member technical staff, projects on the FASB’s technical and research agendas, XBRL, the FASB budget, supporting and enhancing FASB operating policies, procedures and process improvements, and FASB project-related communications.
The technical director also chairs the Emerging Issues Task Force (EITF) and oversees the operation of activities associated with other advisory groups and councils. Finally, the technical director also has primary oversight for reviewing and maintaining the content of the Accounting Standards Codification.
Interested candidates for the role should have a high degree of expertise in financial accounting and reporting and its practical applications in the business environment, as well as a thorough knowledge of research methodology and the due process methods of operation of the FASB. The successful candidate will also have a clear track record of managing teams in the accounting or financial reporting area, and a minimum of 15–20 years of public accounting or industry experience.
About the Financial Accounting Standards Board
Established in 1973, the FASB is the independent, private-sector organization, based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit www.fasb.org.