Current Developments in the Private Sector

Norman Strauss, Susan Cosper, Alison Spivey, Robert Laux, and Robert Uhl

Cosper started the panel by briefly discussing the recent turnover at FASB: by the end of 2018, the board will have replaced four members in three years. “If you think about some of the comprehensive projects that we completed over the last five or six years, it becomes very challenging when you have so much turnover,” she said, “because of the number, the length, and the frequency of the meetings and the types of decisions that we have to make to ensure that the board members that come on after buy into them.” Nevertheless, she said, the board was making sure that it would complete as many projects as possible before board member Marc Siegel's final term ended on June 30.