Clifton Gunderson: CEO Krista McMasters named as member of private company panel

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AICPA/FAF/NASBA “Blue Ribbon Panel” to Address Standards for Private Companies

MILWAUKEE, Wis. – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced CEO Krista McMasters has been named as a panel member of The American Institute of Certified Public Accountants (AICPA), the Financial Accounting Foundation (FAF), and the National Association of State Boards of Accountancy (NASBA) new “blue-ribbon panel” established to address how U.S. accounting standards can best meet the needs of users of private company financial statements.

Members of the panel represent a cross section of private company financial reporting constituencies, including lenders, investors, and owners as well as preparers and auditors. After its comprehensive review of issues affecting the current system of standard settings for private companies in the United States, the panel will issue a report containing its recommendations to the FAF Board of Trustees in approximately one year.

As announced last month, the committee will be chaired by Rick Anderson, chairman of Moss Adams, LLP, who is also a current member of the FAF Board of Trustees and the AICPA. The panel members are:

Rick Anderson, Chairman, Moss Adams, LLP

Billy Atkinson, Board Chair, NASBA

Daryl Buck, Senior VP and CFO, Reasor’s, Inc.

Steve Feilmeier, CFO, Koch Industries

Hubert Glover, Co-founder and President, REDE, Inc.

David Hirschmann, President and CEO, Center for Capital Markets Competitiveness, U.S. Chamber of Commerce

William Knese, VP, Finance and Administration, Angus Industries

Kewsong Lee, Managing Director, Warburg Pincus

Paul Limbert, CEO, WesBanco, Inc.

Krista McMasters, CEO, Clifton Gunderson

Barry Melancon, President and CEO, AICPA

Jason Mendelson, Co-founder, Foundry Group

Michael Menzies, CEO, Easton Bank and Trust Company

David Morgan, Partner, Lattimore, Black, Morgan and Cain PC

Terri Polley, President, FAF

Dev Strischek, Senior VP, Corporate Risk Management, SunTrust Banks, Inc.

Mark Vonnahme, Executive VP, Surety, Arch Insurance Group

Terri Yohn, Associate Professor, Indiana University

The members will be joined by several participating observers, including representatives of the U.S. Federal Financial Institution Regulatory Agencies Group and the U.S. Small Business Administration.

“Our blue-ribbon panel members represent a broad range of constituencies who share a keen interest in private company financial reporting,” stated Mr. Anderson. “The members we have assembled all possess experience and expertise in this area, and their participation will undoubtedly result in productive, insightful recommendations to the FAF Board of Trustees regarding this important issue.”

About Clifton Gunderson

Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, provides a wide range of assurance, accounting, tax, and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 40 offices across the country. The firm has been recognized as one of the country’s best places to work.