GASB adds three new organizations to Advisory Council

GASB will soon benefit from additional stakeholder perspectives in light of a recent decision by the Trustees of the Financial Accounting Foundation (FAF) to expand the size of the Governmental Accounting Standards Advisory Council (GASAC). 

At its May meeting, FAF Trustees approved expanding the size of the GASAC by adding the following three organizations to its membership: 

• Airports Council International—North America 

• National Association of Black Accountants 

• National Association of State Boards of Accountancy 

The three organizations were added to GASAC’s current roster of 30 member organizations in the interest of gaining critical new perspectives from their representatives. These additions will promote a broader, more robust dialogue on the most important and timely accounting and financial reporting issues facing state and local governments and governmental entities in the United States. 

The GASAC advises the GASB on strategic and technical issues, project priorities, and other matters that affect standard setting. Members of the GASAC also are responsible for consulting with the GASB on technical issues on the Board’s agenda, project priorities, matters likely to require the attention of the GASB, selection and organization of task forces, and such other matters as the Board may request. 

A representative from each of the new member organizations will be nominated by their respective organizations and considered for approval by the FAF Board of Trustees in the fall of 2024. The new GASAC representatives will formally join the GASAC on Jan. 1, 2025. GASAC members are appointed to serve a two-year term and are eligible to be reappointed for up to two additional consecutive two-year terms. 

For a complete list of current GASAC members and the organizations they represent, visit www.gasb.org/gasac.