FASB Appoints New Members to Emerging Issues Task Force

The Financial Accounting Standards Board appointed Dan Palomaki and Jay Seliber as the newest members of its emerging issues task force (EITF).

Palomaki is a managing director and institutional clients group controller at Citigroup. Seliber is a partner at PwC.

“I am pleased to welcome Dan Palomaki and Jay Seliber to the emerging issues task force,” Hillary H. Salo, technical director of the FASB and chair of the emerging issues task force, said. “Each brings to the EITF extensive experience in technical accounting, and we look forward to their perspectives on issues addressed by the task force.”

The EITF assists the FASB in improving financial reporting through the timely identification, discussion and resolution of financial accounting issues. Members are chosen from a cross section of FASB stakeholders, including users of financial statements, public accounting firms and preparers of financial statements.

Palomaki fills the seat vacated by Bret Dooley and Seliber will replace Larry Dodyk (partner at PwC), who will retire from PwC in June.

“On behalf of the FASB, I want to thank Bret Dooley and Larry Dodyk for their exceptional contributions to the EITF,” Salo said. “Their contributions helped the EITF improve financial reporting for those applying accounting standards.”

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