The Financial Accounting Standards Board has appointed Mark Scoles, a partner-in-charge at Grant Thornton‘s accounting principles group, to its Emerging Issues Task Force.
FASB is an independent nonprofit organization in the private sector that establishes accounting and reporting standards for companies and organizations that follow Generally Accepted Accounting Principles.
Scoles will assume his role on FASB’s EITF on March 3 and continue the remaining five-year renewable term of the late Chuck Evans, FASB said Wednesday.
Scoles is currently responsible for handling U.S. Securities and Exchange Commission issues, financial assets, financial instruments, securitization transactions, derivative financial instruments and industry-specific accounting issues at Grant Thornton.
He previously held a position in the American Institute of CPA as a member of the financial reporting executive committee and auditing standards board.
As a member of EITF, he will provide support for developing standards in financial reporting.