NEWS RELEASE 01/10/11
Susan M. Cosper Named Technical Director of the Financial Accounting Standards BoardNorwalk, CT, January 10, 2011—Financial Accounting Standards Board (FASB) Chairman Leslie F. Seidman today named Susan M. Cosper as FASB technical director, effective February 1, 2011. Ms. Cosper fills the vacancy resulting from the appointment of Russell G. Golden to the FASB in September 2010.
Ms. Cosper brings more than 18 years of diverse financial reporting and auditing experience to her new role with the FASB. A partner with PricewaterhouseCoopers LLP (PwC) since 2007, she joined the Firm’s Assurance practice in 1992 and has performed financial statement audits and provided technical accounting advice for companies in the United States and abroad.
“I am delighted that Sue Cosper will be leading the FASB staff at this important point in time,” said Leslie F. Seidman, chairman of the FASB. “Sue’s deep technical knowledge and diverse experience with audits of a wide range of companies—large and small, domestic and global—will bring a broad perspective to this key management role.”
As technical director of the FASB, Ms. Cosper will have primary responsibility for overseeing FASB staff work on all standards-setting projects, including major global and domestic projects and technical application and implementation of financial accounting and reporting standards. She will also serve as chair of the FASB’s Emerging Issues Task Force (EITF).
Ms. Cosper began her career in the Pittsburgh office of PricewaterhouseCoopers, where she performed audits of private and public companies in PwC’s Assurance practice. From 1998 to 2001, she accepted an international assignment in the firm’s London office. There, she led global audit engagements and advised clients on international accounting issues. After her return to Pittsburgh, in 2005 she was selected for a three-year fellowship with the FASB, where she held the roles of practice fellow and senior practice fellow. Upon completing the fellowship, she became part of PwC’s national office and, most recently served in PwC’s Financial Instruments, Structured Products, and Real Estate Group in New York City. She earned her B.S. in accounting from Indiana University of Pennsylvania and is a certified public accountant in the states of New York, New Jersey, and Pennsylvania.
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.