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.’

Related Articles

KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

6d Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

2w Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

3w Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

3w Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

2m Alia Shoaib, Reporter
Deloitte to pay $149.5m over Taylor, Bean & Whitaker audit failure

Audit Deloitte to pay $149.5m over Taylor, Bean & Whitaker audit failure

2m Alia Shoaib, Reporter
Carillion inquiry: missed red flags, aggressive accounting and the pension deficit

Audit Carillion inquiry: missed red flags, aggressive accounting and the pension deficit

2m Alia Shoaib, Reporter
Deloitte’s audits of Hezbollah-linked bank to be examined by Dubai court

Audit Deloitte’s audits of Hezbollah-linked bank to be examined by Dubai court

2m Alia Shoaib, Reporter