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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