Michael GranofThe Chairman of the Federal Accounting Standards Advisory Board (FASAB), Tom Allen, announced today that Michael H. Granof hasbeen reappointed to the Board. Michael’s second five-year term began on July 1, 2014 and will conclude on June 30, 2019.

An Appointments Panel—composed of the FASAB chairman, the three federal FASAB members, and three individuals representing the American Institute of CPAs and the Financial Accounting Foundation—advises the FASAB Sponsors on appointments and re-appointments for the six nonfederal members of the Board. The Sponsors—Jacob Lew, the Secretary of the Treasury; Brian Deese, the Acting Director of the Office of Management and Budget; and Gene L. Dodaro, the Acting Comptroller General of the United States, made the final appointments.

Dr. Granof is the Ernst & Young Distinguished Centennial Professor of Accounting and a University Distinguished Teaching Professor at the McCombs School of Business at the University of Texas at Austin. Dr. Granof also serves as a member of the Governmental Accounting Standards Board.

Regarding the appointment, Chairman Allen said, “I look forward to continuing to work with Michael on the Board. Michael’s understanding of financial reporting for both government and non-governmental entities combined with his service on the GASB ensure he will provide valuable insights to the Board.  I am pleased that Michael will continue to support the Board in its work on critical federal financial reporting issues.”