Clement Selected for National Accounting Oversight Board

Longtime accounting professor Michael B. Clement, who is retiring this summer, has been named to the board of directors of the Financial Accounting Foundation, an independent organization that oversees the boards that set accounting standards for companies, nonprofits, and state and local governments. He joins other top accountants, state and local government officials, academics, and regulators who appoint members to the Financial Accounting Standards Board and the Governmental Accounting Standards Board. Those accounting and reporting standards are known as generally accepted accounting principles, or GAAP. His term runs through December 2028. 

From 2018 to 2022, Clement served as chair of the Department of Accounting. During those years, the department’s undergraduate and graduate programs continued their streaks at No. 1 — 18 and 17 consecutive years, respectively — in the U.S. News & World Report’s rankings. He began teaching at McCombs in 1997. Clement was a visiting professor of business administration at Harvard University in 2023. His research has been published in leading academic journals, and he has served as an editor at Accounting Horizons and on the editorial board of The Accounting Review.