John White Appointed to the Advisory Boards of the FASB and the PCAOB

On November 18, 2011, Cravath partner John W. White, Co-Chair of the Firm’s Corporate Governance and Board Advisory practice, was appointed by the Financial Accounting Foundation (FAF) to serve on the Financial Accounting Standards Advisory Council (FASAC). FASAC, which was formed in 1973 concurrent with the founding of the Financial Accounting Standards Board (FASB), has as its primary function to advise the FASB on accounting issues and related projects. Also this month, John was re-appointed by the Public Company Accounting Oversight Board (PCAOB) to serve a three-year term on its Standing Advisory Group (SAG). As contemplated by the Sarbanes-Oxley Act of 2002, the SAG advises the PCAOB on the establishment of auditing and related professional practice standards. His initial term on FASAC and his renewed term on the SAG will each commence in January 2012.