Vermont Business Magazine Former Vermont State Treasurer Beth Pearce has been appointed to the Financial Accounting Foundation’s Board of Trustees. The FAF provides oversight of the financial standards-setting boards for U.S. companies and governments.
“Treasurer Pearce has always been deeply committed to public service and improving the lives of those in our communities,” said Governor Scott. “I’m thrilled that she will continue to be able to give back in this new and important role, and I know she will be an incredible asset to the FAF Board of Trustees.”
"Treasurer Pearce’s dedicated service to Vermonters, coupled with her commitment to sound financial management, uniquely position her as a valuable addition to the prestigious FAF Board of Trustees,” said Vermont State Treasurer Mike Pieciak. “It’s yet another example of Vermonters leading the nation through example, and I know she’ll continue to lead with Vermont values to support the Board’s oversight of financial reporting standards.”
The Financial Accounting Foundation (FAF) is an independent, private non-profit organization that oversees the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). Both entities establish and improve financial accounting and reporting standards. The FASB is responsible for setting accounting standards for private companies and nonprofit organizations, while the GASB sets standards for state and local governments.
Pearce currently serves as Chair of the Governmental Accounting Standards Advisory Council (GASAC), providing guidance and insights into government accounting standards to the Council’s members. Appointed by the FAF in 2022, Pearce assumed the position after a distinguished career as Vermont State Treasurer, where she served for over a decade.
As Vermont State Treasurer, Pearce used the Office to support clean water initiatives, affordable housing, the VermontABLE program, local investments, and pension reform.
Notably, Pearce played a pivotal role in safeguarding the defined benefit system for Vermont’s teachers, state, and municipal employees.
She also served as President in both the National Association of State Treasurers (NAST) and the National Association of State Auditors, Comptrollers, and Treasurers (NASACT), solidifying her leadership among state treasurers.
Treasurer Pearce’s term on the FAF Board of Trustees will begin on January 1, 2024, and conclude on December 31, 2028.
Source: 11.20.2023. Montpelier, VT - Office of the Vermont State Treasurer