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.

Read more:

departure could speed up convergence

chief to retire early

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