The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of David M. Sullivan to serve as the chair of the Financial Accounting Standards Advisory Council (FASAC), effective January 1, 2026.
The FASAC advises the Financial Accounting Standards Board (FASB) on strategic and technical issues, project priorities, and other matters that affect standard setting. The FASAC provides the FASB with diverse perspectives from individuals with varied business and professional backgrounds.
Sullivan will succeed Michael M. Morrow who joined the FASAC in 2019, has served as FASAC chair since January 1, 2020, and will conclude his service in December.
Sullivan, currently serves as a member of the Public Interest Oversight Board (PIOB), which oversees the activities of the International Auditing and Assurance Standards Board (IAASB) and International Ethics Standards Board for Accountants (IESBA) and serves on the audit quality boards of RSM USA LLP and CBIZ CPAs.
“Dave is a well-respected thought leader, with extensive experience working with large public companies, as well as emerging growth companies and companies preparing for an initial public offering,” said FAF Board of Trustees Chair Edward Bernard. “We are delighted to have Dave step into this role.”
After more than 35 years with Deloitte, he retired in 2021 having held multiple roles within the firm, including the global firm’s Audit & Assurance Quality Leader. Throughout his time there, he was a lead client and advisory partner in the technology, software, retail, manufacturing, and automotive industries, holding positions in regional, national, and global leadership.
“Dave brings a strategic viewpoint with a keen awareness of the essential role of financial reporting, along with a broad understanding of all aspects of the financial reporting ecosystem,” said FASB Chair Rich Jones. “He is well positioned to lead the FASAC and to help navigate the issues brought to the Council.”
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Tags: Accounting
