Academic journal article Journal of Accountancy

At-Large Trustee Heads FAF

Academic journal article Journal of Accountancy

At-Large Trustee Heads FAF

Article excerpt

Manuel H. Johnson has been elected chairman of the board of trustees and president of the Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board. A relative newcomer to the FAF, Johnson joined it in 1996 as one of the at-large, or public, members following negotiations on the board's composition between the FAF and the Securities and Exchange Commission. Johnson's immediate predecessor, J. Michael Cook, chairman and chief executive officer of Deloitte & Touche, remains on the board. "Cook will be a tough act to follow," said Johnson in a public statement, "He was an outstanding leader of the FAF" Cook also praised his successor: Johnson is a great choice to lead the FAF"

Johnson, who has a PhD in economics, is cochairman of Johnson Smick International, a Washington, D.C., consulting firm that provides policy and economic analysis to US. and foreign financial institutions. He was assistant secretary of the treasury from 1982 to 1986 and vice-chairman of the Board of Governors of the Federal Reserve System from 1986 to 1990. …

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