From the Chairman
By David A. Vaudt, GASB Chairman

Joel Black Selected as Incoming GASB Chair


Earlier this year, the Financial Accounting Foundation’s Board of Trustees selected Joel Black as the next GASB chair, beginning in July. As many of you know, my seven-year term ends on June 30.
Earlier this year, the Financial Accounting Foundation’s Board of Trustees selected Joel Black as the next GASB chair, beginning in July.


Joel is a partner with Mauldin & Jenkins, where he oversees an audit practice that includes some 300 employees across 8 offices in 5 states. He’s been in public accounting for more than 25 years—including a dozen years at my own public accounting alma mater, KPMG—and served government clients of all types and sizes. I am excited to pass the baton to Joel.

He has devoted a great deal of time to the accounting profession, teaching at industry conferences and webinars and serving on advisory boards for the AICPA and the GASB.

Before he was selected, I had the chance to spend some time working with Joel through his service in 2019 on the Governmental Accounting Standards Advisory Council, our primary advisory group. This spring, he will join us in Norwalk, where we’ll work side-by-side for several months to get him acclimated to the role and to meet with stakeholders both here in Norwalk and around the country.
 

A Word of Thanks


On a personal note, when the Trustees selected me as GASB chair in 2013, it opened up the most rewarding experience of my professional life. I had served as Iowa’s elected state auditor for 10 years and was very proud of what we accomplished in Iowa. In my new GASB role, however, my work was on the national stage. Here was an opportunity to make a difference that I did not take lightly.

The ensuing 7 years have not disappointed. The Board has devoted time to truly important projects that improve public sector accounting and financial reporting. It has been my privilege to meet with stakeholders from around the country and listen to their views on these matters.

But as they say—time flies.  My term ends June 30, 2020, and now I look forward to working with Joel to foster a smooth transition.
 
Joel and I look forward to your continued engagement in the standards-setting process that serves our state and local governments and the users of their financial statements so well. I know you’ll join me in welcoming him to the GASB.