Monday, November 21, 2011
HoganTaylor founding partner Jim Taylor, CPA, has been appointed to the Financial Accounting Standards Advisory Council (FASAC), which is responsible for advising the Financial Accounting Standards Board (FASB) on technical issues, project priorities, and other matters that affect accounting standard setting.
The FASB is the designated organization in the private sector for establishing standards of financial accounting and reporting which govern the preparation of financial reports as required by the Securities and Exchange Commission and the American Institute of Certified Public Accountants.
FASAC members are drawn from the ranks of CEOs, CFOs, senior partners of public accounting firms, executive directors of professional organizations, and senior members of the academic and analyst communities, all with an interest in the integrity of full and complete financial reporting and disclosure. Taylor is one of two current members of the advisory council from Oklahoma and the only member from an Oklahoma or Arkansas CPA firm. His appointment begins January 1, 2012 for a one-year term; he is eligible to be reappointed for three additional one-year terms.
“I’m honored to be able to provide my input and represent the interests of real-world business in the decision making that the FASB does,” said Taylor, adding that he would be very interested in hearing from members of the general business community about any ‘hot buttons’ they believe are important for the FASB to consider so that he may provide the broadest perspective possible.
Taylor leads HoganTaylor’s Assurance Services division, believed to be the largest audit practice in the state in terms of number of CPA’s and total personnel. He was also a founding partner of one of the legacy firms to HoganTaylor, Tullius Taylor Sartain & Sartain. More of Taylor’s biography is available at http://hogantaylor.com/who-we-are/our-partners/jim-taylor.
“We’re very pleased to welcome our new members to the FASAC,” said Dennis Chookaszian, chairman of the FASAC. “Each of these individuals has excelled in their specific stakeholder community and their varied perspectives will be integral to FASB and the standard-setting process.”
About HoganTaylor, LLP: Formed from a January 2009 merger of Tullius Taylor Sartain & Sartain and Hogan & Slovacek, HoganTaylor is the largest public accounting firm in the Oklahoma/NW Arkansas region. The firm has more than 170 employees and provides a wide range of comprehensive tax, assurance, accounting, business valuation and litigation support services. HoganTaylor has two offices in Tulsa, and offices in Oklahoma City and Fayetteville, Arkansas. Website: www.hogantaylor.com
About the Financial Accounting Standards Board: Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.