The Financial Accounting Foundation said that, since the terms of the current chairs of the Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB) expire in 2020, they are now seeking nominations for new chairs of both boards.

Ideal candidates for the FASB and the GASB chair positions should possess these critical competencies for success in each role:

• * Commitment and passion for the Board’s mission. This includes an appreciation for the importance of independent standard setting for financial accounting and reporting, concern for the public interest, and an understanding of the varying interests and perspectives of users of financial information, preparers, and auditors of financial reports.
  
  
• * Strong knowledge and technical competency in financial accounting and reporting.  
  
  
• * Collaborative leadership and communication skills. An inspiring and pragmatic leader will command respect, instill confidence, and help lead organizational change in a consensus-driven organization.