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Monday, September 29, 2008

FASAB Seeks Candidates for Board Membership

The Federal Accounting Standards Advisory Board (FASAB) is seeking individuals interested in serving a five-year term as a member of the board. FASAB is identifying candidates for two vacancies occurring on July 1, 2009, when board members James Patton and John Farrell will have completed their service. FASAB is particularly interested in candidates who have experience as: analysts of financial information, economists or forecasters, academics, auditors, preparers of financial information, or those otherwise knowledgeable regarding the use of financial information in decision-making.

The registry is open to those not currently employed by the federal government. If you are interested in serving but need more information, the FASAB website includes a "Statement of Board Members' Responsibilities," a list of current members and a fact sheet. The nonfederal members serve as part-time special government employees and are compensated at an hourly rate for attendance at board meetings and an equivalent amount of time for preparation (typically 200 hours per year).

The registry will be provided to the appointments panel in January 2009. The panel--comprising three federal members, the FASAB chairman and three individuals representing the American Institute of CPAs, the Financial Accounting Foundation and the Accounting Research Association--advises the FASAB sponsors on appointments and re-appointments for the six nonfederal members of the board. The sponsors--the Secretary of the Treasury, the director of the Office of Management and Budget, and the Comptroller General--make the final appointment.

Individuals wishing to be added to the registry should submit a resume, addressed before Dec. 19, 2008 to: Wendy M. Payne, Executive Director, Federal Accounting Standards Advisory Board, 441 G St. NW, Mailstop 6K17V, Washington, D.C. 20548 or fasab@fasab.gov.

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