John E. Stewart is a co-founder and Managing Director of Financial Reporting Advisors, LLC ("FRA"). Based in Chicago, Illinois, FRA provides consulting services related to accounting and SEC reporting, and litigation support services.
Prior to his association with FRA, Mr. Stewart was a partner with the firm of Arthur Andersen LLP. He was the Director of U.S. Accounting Principles in the firm's Professional Standards Group. In this role, Mr. Stewart consulted with clients and engagement teams on financial reporting matters; authored interpretive guidance on numerous accounting topics; and represented the firm before the FASB, SEC, AICPA, and IASB.
Mr. Stewart was a member of the FASB's Emerging Issues Task Force (EITF) for over ten years and served on its agenda committee. He also chaired or was a member of various EITF working groups on topics such as consolidations, derivatives, financial instruments, foreign currency, hedging, leases and leveraged buyouts. Mr. Stewart served as a member of FASB Implementation Groups on accounting for pensions and income taxes. He was a member of the FASB’s Financial Instruments Task Force, the Derivatives Implementation Group, and the AICPA's Financial Instruments Task Force. He is a member of the Institute of Management Accountants' Financial Reporting Committee and the Advisory Council Executive Committee of the SEC and Financial Reporting Institute at the University of Southern California. Mr. Stewart testified before the SEC’s Advisory Committee on Improvements to Financial Reporting.
Mr. Stewart has spoken at major conferences such as the Current Financial Reporting Issues Conference sponsored by FEI, the Annual SEC and Financial Reporting Institute Conference sponsored by the University of Southern California, and the Houston CPA Society’s Financial Reporting Symposium. He has authored numerous articles in publications such as The Journal of Accountancy and Financial Executive. He has also contributed chapters to books such as The Asset Securitization Handbook (Irwin Professional) and Handbook of Modern Accounting (McGraw-Hill). Additionally, Mr. Stewart was the co-author of Accounting for Financial Assets and Liabilities: Sales, Transfers and Extinguishments (CCH). He currently serves on the Editorial Advisory Board of Accounting Research Manager™, the electronic research database of financial reporting materials published by CCH.
Prior to joining Andersen’s Professional Standards Group, Mr. Stewart was a member of the firm's Banking and Financial Services Division in the Chicago office specializing in serving such clients as banks, bank holding companies, leasing companies, insurance companies and brokerage firms.
Mr. Stewart received an M.B.A. from Indiana University's Graduate School of Business, majoring in accounting and earning Beta Gamma Sigma honors. He earned his bachelor’s degree with high distinction from DePauw University where he majored in mathematics and was a member of Phi Beta Kappa. He is a licensed Certified Public Accountant in Illinois. He won a national Elijah Watt Sells award for his performance on the CPA exam. Mr. Stewart is a member of the American Institute of Certified Public Accountants, the Illinois CPA Society, the American Accounting Association, and the Institute of Management Accountants.