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.’
UK senior partner Phil Verity has been elected for a second term at Mazars
An audit partner has been appointed at Grant Thornton in its North West offices
KPMG has been appointed with “immediate” effect as the auditor of Dorcaster
The audit for Ibstock will be taken over by Deloitte following a competitive tender process