Favourite emerges for top post in US accounting

Bob Herz

The technical director of FASB, the US standard setter, has emerged as one the lead contenders to lead the organisation after it was revealed that the current chairman is to take early retirement.

According to the Wall Street Journal, Robert Golden is being considered by the foundation that manages FASB appointments.

Chairman Bob Herz leaves later this month after surprising observers with an announcement that he would take early retirement. He was due to leave in 2010.

Herz had a critical role in negotiating the convergence of US standards with their international counterparts.

Close watchers believe that the new chairman will give a clear indication on which way the US will go on convergence and whether it will finally sign on accepting international standards as a viable replacement for US GAAP.

There remains stiff opposition in US markets and companies to full convergence with international standards given that only a small proportion do business internationally.

Golden was partner at Deloitte before joining FASB in 2004. He became technical director in 2008.

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FASB chief to retire early