NORWALK, Conn.-Scott Waite, chief financial officer for PatelcoCredit Union, was recently named to the Financial AccountingStandards Board's new Small Business Advisory Committee. The24-member committee was established to increase the small businesscommunity's involvement in developing U.S. accounting standards.Committee members include lenders, investors, analysts, andpreparers of financial statements from a broad range of businesses.FASB will use the committee as a resource for additionalinformation and advice on accounting issues before the board. “TheFASB has always recognized small businesses as an importantconstituency,” FASB Chairman Robert H. Herz said. “Formation of theSmall Business Advisory Committee should be a win-win for everyoneinvolved, and the Board looks forward to working with the group.”FASB said the formal committee will provide for a better exchangeof ideas, knowledge, and experience with the board. The SmallBusiness Advisory Committee is scheduled to hold its first meetingin May in Norwalk, Conn.
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