August 7, 2022

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FAF Trustees Appoint Frederick L. Cannon and Reappoint Christine A. Botosan to the Financial Accounting Specifications Board

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NORWALK, Conn.–(Company WIRE)–The Board of Trustees of the Financial Accounting Basis (FAF) now announced the appointment of Frederick (Fred) L. Cannon and the reappointment of Christine A. Botosan to the Fiscal Accounting Expectations Board (FASB). Mr. Cannon now serves as Director of Research and Chief Equity Strategist for Keefe, Bruyette & Woods, Inc., a subsidiary of Stifel Money (NYSE: SF). His term is efficient July 1, 2021 and runs till June 30, 2026. Ms. Botosan was appointed to her 1st term on July 1, 2016 and will conclude her assistance on June 30, 2026.

“On behalf of the FAF Board of Trustees, I am happy that Mr. Cannon will be signing up for the FASB. He is an completed economist with a deep understanding of economical companies and has a strong consumer viewpoint,” said Kathleen L. Casey, chair of the FAF Board of Trustees. “I also congratulate Ms. Botosan on her reappointment. As an award-winning professor and researcher, Ms. Botosan provides invaluable context to the normal-setting approach.”

Mr. Cannon, who will continue to be in his current purpose at Keefe, Bruyette & Woods into early 2021, has just about 40 yrs of practical experience in varied roles with a strong emphasis on investigation, fairness technique, investor relations, and company communications. He commenced his profession with Financial institution of The us Corporation, steadily increasing to positions of amplified obligation. In 1998, he joined Golden Condition Bancorp as Government Vice President and Director of Investor Relations and Company Communications.

He joined Keefe, Bruyette & Woods in 2003 as Vice President, was then promoted to Senior Vice President and Handling Director, and later on acknowledged his present positions. Often quoted in the monetary push, Mr. Cannon is also a normal visitor on CNBC, Bloomberg Tv, as perfectly as other national radio and broadcast television outlets.

Mr. Cannon holds a Grasp of Science, Agricultural Economics, from Cornell College and is a Chartered Monetary Analyst (CFA). Mr. Cannon is now a member of the CFA Institute and a member of the FASB Transition Resource Team for Credit history Losses.

Mr. Cannon will thrive R. Harold “Hal” Schroeder whose 2nd and last time period on the FASB ends June 30, 2021.

About the Financial Accounting Basis

Established in 1972, the Financial Accounting Basis (FAF) is the independent, private-sector, not-for-revenue group based mostly in Norwalk, Connecticut accountable for the oversight, administration, financing, and appointment of the Monetary Accounting Standards Board (FASB) and the Governmental Accounting Criteria Board (GASB). The FASB and GASB build and make improvements to fiscal accounting and reporting standards—known as Frequently Acknowledged Accounting Concepts, or GAAP—for general public and non-public companies, not-for-revenue organizations, and condition and neighborhood governments in the United States. For extra information and facts, take a look at www.accountingfoundation.org.

About the Financial Accounting Expectations Board (FASB)

Established in 1973, the FASB is the unbiased, private-sector business, primarily based in Norwalk, Connecticut, that establishes fiscal accounting and reporting standards for community and non-public providers and not-for-revenue corporations that observe Typically Acknowledged Accounting Ideas (GAAP). The FASB is recognized by the Securities and Exchange Commission as the specified accounting regular setter for general public companies. FASB standards are acknowledged as authoritative by lots of other organizations, like state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and difficulties fiscal accounting benchmarks via a clear and inclusive approach intended to encourage money reporting that supplies helpful data to investors and some others who use monetary reviews. The Economical Accounting Basis (FAF) supports and oversees the FASB. For more info, go to www.fasb.org.

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