FAF Meet the Trustees: Tony Dowd & Eloise Foster

The FAF to me is a continuation of my
public service my family served in the military I served in the Army in the
80s I served with the White House at the recovery board in the early parts of the
financial crisis and I view the FAF as just a continuation of that public
service. It’s a big commitment but it’s a big mission it underpins our
financial markets and it really is a public service to me. As the state of
Maryland’s budget secretary I led efforts to sell Maryland bonds and I was
a member of the state pension board. My experience as an investor and as an
issuer gave me an appreciation for the importance of high quality
accounting standards. I was so enthusiastic about this opportunity
because it gave me as a FAF board member the opportunity to help with
preserving the independence and the integrity of the accounting standards
process. One way that my experience can help the FASB and the GASB is
particularly during my time in Washington during the financial crisis I
saw firsthand lobbyists and special interest groups attacking the integrity
of financial standards and trying to weaken them to support their individual
positions so helping the FASB and GASB through the FAF, maintain our
independence I think would be one of my more important contributions. I was a
public servant for nearly 40 years. I have a great deal of governance
experience. My experiences in government are diverse and it is those collective
experiences that I hope will be an asset to the FAF Board as we move forward and
try to support the mission and the overall goals of the FASB and the
GASB. One of the important responsibilities of the Board is to make
sure that the GASB and the FASB are adequately funded and in that vein we’d
like to see the funding mechanisms that are in place in the Sarbanes-Oxley and
the Dodd-Frank act maintained.

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