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Neighbors Growing Together | Oct 19, 2017

Iowa auditor resigns to head accounting nonprofit

By CATHERINE LUCEY | Apr 04, 2013

DES MOINES (AP) — Iowa State Auditor David Vaudt announced today he is resigning his elected position to become chairman of a national nonprofit accounting board.

Vaudt, a Republican who has served as Iowa’s auditor since January 2003, said at a news conference that he would leave the position to become chairman of the Governmental Accounting Standards Board.

His new position will begin July 1.

“I have to tell you this is a bittersweet time for me. It has been truly an honor and a privilege to serve as Iowa’s auditor for the last decade. I have thoroughly enjoyed my tenure,” Vaudt said.

Gov. Terry Branstad will appoint a replacement, who will serve until Vaudt’s term expires. Spokesman Tim Albrecht said no timeline has been set to find a replacement. Vaudt did not offer any recommendations on his successor.

The next election for auditor will be in November 2014.

“David Vaudt has been a dedicated public servant for the taxpayers of Iowa, and we will miss his incredible work as steward of our tax dollars,” Branstad said in a statement. “David embodied the principles of good budgeting, including not spending more than we take in, and avoiding the use of one-time money for ongoing expenses.”

Vaudt will serve a single, seven-year term as chairman of the seven-member Governmental Accounting Standards Board, which is based in Norwalk, Conn. The nonprofit group works to improve financial accounting and reporting standards for state and local governments.

Vaudt called the job a “very unique position.”

“It gives me the opportunity to have a national impact. Obviously as state auditor I’ve been able to have a nice impact on the state of Iowa. But this will impact every state and local government in this country,” he said.

Vaudt will replace Chairman Robert H. Attmore, who will retire June 30. Vaudt said his last day with the state will be May 3. He will start at the Board May 13, before officially assuming the chairmanship July 1.

A spokesman for the Board declined to release Vaudt’s salary. Attmore’s annual compensation was $440,773, according to the organization’s most recent financial disclosure.

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