July 1, 2014 – Norwalk, CT – Chad Porter, CPA, CFE, Partner with Smith Marion & Co., LLP based in Brentwood, TN has been accepted as a Governmental Accounting Standards Board task force member for the Leases project. The goal of this project is to identify problems associated with lease accounting and revise current financial reporting standards for leases. This appointment recognizes the exceptional knowledge and experience held by Chad Porter, CPA, CFE as an Auditor.
The purpose of GASB task force members is to provide knowledge, feedback and suggestions regarding the GASB’s current research projects. Members review papers prepared by GASB staff for board meetings, monitor board meetings and comment as applicable. Members are selected by the GASB chairman; based on the amount of expertise, advice and experience they will contribute towards the project.
Chad Porter comments, “I am honored to be selected for such a prestige position by the Governmental Accounting Standards Board. Leases are a complex and emerging area, I look forward to being on the cutting edge of this issue.”
Porter graduated in 1996 from Cal State San Bernardino with a Bachelors of Science in Business Administration and a concentration in Accounting. He has worked for Smith Marion & Co. since May of 1996. Porter is a Certified Fraud Examiner, he specializes in audits of HUD funded organizations and housing authorities, audits of tax credit properties, audits of California Department of Education child care organizations and Single Audit (A-133) of federally funded organizations.
The Governmental Accounting Standards Board is an independent organization; they are recognized by state and local governments and the accounting profession as the official source of U.S. Generally Accepted Accounting Principles. They are dedicated to improving accounting and financial reporting standards for the U.S. state and local governments.