Monday, January 11, 2010

Rick Anderson To Chair Blue Ribbon Panel on Private Co. Accounting

Earlier today, the Financial Accounting Foundation, AICPA and NASBA announced that Rick Anderson, chairman of audit firm Moss Adams LLP, has been selected to chair the Blue Ribbon Panel on private company accounting. (See FAF Jan. 11 press release.)

The Blue Ribbon Panel was announced by the FAF, AICPA and NASBA in a press release on December 17. FEI issued a statement on December 18 applauding the formation of the panel.

Moss Adams LLP and its Leaders Active in Standard-Setting
According to the Fast Facts posted on Moss Adams' website, Anderson serves as chairman and CEO of Moss Adams, and the firm was ranked the nation's 11th largest audit firm in 2007. Anderson is a member of the FAF Trustees, has served on the AICPA Council, and is the immediate past chair of the AICPA Major Firms Group.

Also of interest on Moss Adams' website is this letter to the G-20 dated Sept. 17, 2009 sent by Anderson and another Moss Adams partner, Bob Bunting, who serves as President of the International Federation of Accountants and is a past president of the AICPA. The letter, sent ahead of the G-20's September meeting in Pittsburgh, called for the G-20 to:

  • urge the early implementation of International Financial Reporting Standards (IFRS), International Standards on Auditing (ISAs) [NOTE: ISAs are written by the International Auditing and Assurance Standards Board (IAASB), a division of IFAC]
  • adopt and implement the Organization for Economic Cooperation and Development's Principles of Corporate Governance as the standard framework for corporate governance in all countries,
  • set out competency requirements for those preparing financial statements, and
  • establish fundamental ethical principles applicable to boards of directors.

Additional actions recommended by Moss Adams to the G-20 can be found in the letter linked above.

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