Benefits Accounting Update — Who, What, When, Where and Why?

Diana Scott
Diana J. Scott, CPA
Senior Consultant

Relevant Experience/Specialization
Diana J. Scott is a leader and global resource on accounting and financial reporting issues. Her primary focus is on the accounting for postemployment and postretirement benefits, including the implications of transactions and events affecting those benefit costs and obligations. In her role, she provides accounting guidance and training, prepares issues papers addressing the US GAAP and IFRS implications of benefit transactions, and consults with U.S. and non-U.S. offices on accounting and financial reporting issues.

Diana maintains ongoing contact with the FASB, members of the EITF, the Offices of the Chief Accountant and Corporation Finance of the SEC, and the IASB, and monitors their activities relevant to the firm's practice in the employee benefits area. In addition, Diana serves as a member of the IASB’s Employee Benefits Working Group. She consults with the IASB and FASB staff working on issues affecting the accounting for pensions and other postretirement benefits.

Role at Towers Watson
Diana leads Towers Watson's North American Benefits Accounting Consultation Group and co-leads the Global Accounting Consultation Team. She is located in the firm’s New York City office.

Prior to joining Towers Perrin (a predecessor to Towers Watson) in 1991, Ms. Scott was a project manager on the research and technical activities staff of the FASB for five years. Her primary responsibility was the research and development of FASB Statement No. 106, Employers' Accounting for Postretirement Benefits Other Than Pensions. She also consulted on implementation issues relating to the pension accounting requirements of FASB Statements No. 87 and 88. In addition, Ms. Scott was a senior audit manager at a major accounting firm, where she consulted with partners and managers on accounting issues, created reference and continuing education materials, and managed multinational audit engagements.

Education and Credentials
Diana is a frequent author and speaker on benefits-related accounting issues, Ms. Scott has co-authored chapters on accounting for pensions and other types of postretirement benefits in the Corporate Controllers Handbook.

Ms. Scott has a B.A. in business administration from Wittenberg University in Springfield, Ohio. She is a certified public accountant and a member of the American Institute of CPAs.

Contact Information
Phone: 212-309-3514
Office: 335 Madison Avenue, New York, NY 10017