The Private Company Council (PCC), which suggests modifications and exceptions to Generally Accepted Accounting Principles (GAAP) and advises the Financial Accounting Standards Board (FASB) on non-public company-related matters, has three new members, one of whom is in the NYSSCPA, and a new chair. 

The new chair, Candace E. Wright, is a Louisiana-based CPA who serves as a director with the firm Postlethwaite & Netterville. She will succeed the previous chair, Billy M. Atkinson, whose term will conclude on December 31, 2015.

The new members include: 

• Timothy J. Curt, managing director and partner of Warburg Pincus LLC and a Manhattan/Bronx Chapter member; 
• David S. Lomax, assistant vice president and underwriting officer of Liberty Mutual Insurance Company; and 
• Harold L. Monk Jr., a partner of Carr, Riggs & Ingram LLC 

They will replace NYSSCPA members Mark Ellis and Neville Grusd, as well as Diane Rubin, whose terms also end on December 31, 2015. 

“On behalf of the FAF, I am pleased to welcome our newest PCC members,” said FAF Trustee W.M. (Mack) Lawhon, who chairs the Trustees’ Private Company Review Committee. “Their diverse backgrounds will provide valuable perspectives to the PCC and the FASB."