Media Advisory 03/24/20

FASB Names New Members to Its Small Business Advisory Committee

Norwalk, CT, March 24, 2020—The Financial Accounting Standards Board (FASB) today announced the appointment of two new members to its Small Business Advisory Committee (SBAC).

The SBAC serves as a standing resource for the FASB. Its role is to provide focused input and feedback from a small public company perspective, consider whether there are differences in that input for small public versus private company perspectives, and assist the FASB and its staff on matters for which the FASB may seek guidance.

The new members of the SBAC are:
  • Michael J. Phillips, executive vice president and chief strategy officer, Planters First Bank, and
  • Geoffrey R. Morgan, partner, Croke Fairchild Morgan & Beres.
“On behalf of the FASB, I’m pleased to welcome Michael Phillips and Geoffrey Morgan to the SBAC,” stated FASB Chairman Russell G. Golden. “Each will bring a valuable perspective to the SBAC as it carries out its mission to provide the FASB with input on issues of importance to small public companies.”

For more information about the SBAC and its activities, visit