New FASB Member from Industry

The FASB’s newest member is one of our own.  She is the vice president and corporate controller at Cummins Inc., where she manages Sarbanes-Oxley Act compliance, external reporting, consolidation, finance systems, accounting policy, government contract compliance and accounting functions. Finally we will have a member of the FASB Board that has lived and breathed the actual process of following all of these accounting rules and then producing financial reports that try somehow comply while still focusing on relevant information about the business.

Marsha L. Hunt previously served as assistant controller and director of accounting at Corning Incorporated, where she led all U.S. Securities and Exchange Commission and external reporting, audits, Sarbanes-Oxley Act compliance, and M&A accounting-related functions. She received a bachelor’s degree in business administration and accounting from Bucknell University and is a certified public accountant. Ms. Hunt is a member of Financial Executives International and has been active with its Committee on Corporate Reporting and she currently serves on the Financial Accounting Standards Advisory Council.

Ms. Hunt’s term will begin on July 1, 2017 and conclude on June 30, 2022, when she will be eligible for appointment to an additional term of five years. She will succeed Lawrence W. Smith, who joined the FASB in July 2007 and whose second and final term concludes on June 30, 2017.

Thanks to the FASB press release for the background information on Ms. Hunt and thanks to the FAF for finding a professional Accountant in Business that was willing to serve on the FASB.  I can’t wait to hear what she has to say in July.

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