PracticeAuditFASB appoints new chairman

FASB appoints new chairman

The US Financial Accounting Standards Board has appointed Robert Herz as its new chairman with effect from July 2002.

Herz, a partner at PricewaterhouseCoopers, will resign from his post as a part-time member of the International Accounting Standards Board.

He replaces incumbent FASB chairman Ed Jenkins, ex-partner of Andersen Worldwide.

Commenting on Herz’s new appointment, Sir David Tweedie, IASB chairman, said: ‘The FASB has succeeded in attracting someone with both talent and vision. While sorry to lose Bob from our Board, I am delighted that the Trustees of the Financial Accounting Foundation have selected someone who has deep experience in the international arena and is committed to the goal of achieving convergence towards a single set of high quality standards.

‘The FASB will, as ever, be playing a leading role in the movement towards international standards.’

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