SingerLewak backs FAF reappointments to Private Company Council

SingerLewak LLP praised the Financial Accounting Foundation’s reappointment of key leaders to the Private Company Council on June 16, 2026, saying the move supports continuity in private company accounting standards. The council’s work affects how private businesses report financial results, simplify accounting and access capital. Why it matters: - The Private Company Council helps shape accounting standards for private companies, which make up the vast majority of U.S. businesses. - PCC guidance can affect financial reporting, tax strategy and access to capital for privately held firms. - Continuity on the council matters because private company standards are meant to be practical, cost-effective and decision-useful. What happened: - The Financial Accounting Foundation reappointed PCC Chair Jere Shawver and members David Finkelstein, Brad Hendricks and David Hoagland to additional three-year terms. - SingerLewak LLP said it supports the reappointments and highlighted that David Finkelstein is a partner at the firm. - The announcement came June 16, 2026. The details: - The PCC serves as the main advisory body to the Financial Accounting Standards Board on issues affecting private companies. - The council helps shape Generally Accepted Accounting Principles for private company stakeholders. - The reappointed members bring experience across accounting, academia and financial services. - SingerLewak said its support reflects a broader commitment to encouraging directors and partners who volunteer on standard-setting and policy work. - SingerLewak said the PCC helps ensure accounting standards reflect the needs of private companies, their lenders and their investors. Between the lines: - The reappointments signal a preference for continuity as standard-setters balance rigor with the operational realities of private companies. - SingerLewak’s public support also underscores how accounting firms see participation in standard-setting as part of their professional influence and client service. - The firm is drawing attention to the downstream effects of accounting rule changes on finance teams beyond audit and compliance. What’s next: - The reappointed PCC members will serve another three-year term. - SingerLewak encouraged business leaders and finance professionals to follow PCC and FASB activity. - Further PCC work is likely to remain focused on simplification opportunities and practical alternatives within GAAP. The bottom line: - The reappointments keep experienced voices in place as private-company accounting standards continue to evolve.