The Board of Trustees of the Financial Accounting Foundation (FAF) today announced that Hillary H. Salo, whose five-year term on the Financial Accounting Standards Board (FASB) begins July 1, 2024, will serve as the board’s vice chair upon the start of her term. In this capacity, she will succeed current FASB vice chair James L. Kroeker, whose final term on the FASB concludes June 30, 2024.

Salo’s term on the FASB concludes on June 30, 2029, when she will be eligible for consideration for reappointment.

“Hillary has demonstrated outstanding leadership since the day she returned to the FASB as technical director and chair of the Emerging Issues Task Force,” stated FAF Chair Edward C. Bernard. “The Board of Trustees is pleased to have Hillary bring her deep knowledge of accounting and her leadership skills to the FASB as the vice chair, and we are confident she will continue to represent the very best of our organization in the years ahead.”

Salo rejoined the FASB in 2020 from the New York City office of KPMG LLP where she was a partner in the audit practice and engagement partner for a large global financial services organization. She began her KPMG career in the Chicago office in the accounting advisory services group before joining the audit quality and professional practice group in the New York City office.

Salo also served as a professional accounting fellow in the office of the chief accountant at the U.S. Securities and Exchange Commission (SEC) in Washington, D.C. She began her career as a FASB post-graduate technical assistant after graduating with an undergraduate degree in business administration and a master’s degree in accountancy from the University of North Carolina at Chapel Hill.

“When we hired Hillary as technical director four years ago, we were looking for someone with outstanding experience at the highest levels of professional accounting as well as strong leadership skills,” stated FASB chair Richard R. Jones. “Hillary has demonstrated strength in both of these areas, and I’m very pleased to have her bring this great set of skills and experience to the FASB as vice chair.”