Seidman takes up FASB chairman role

LESLIE SEIDMAN has taken up the reins at US standard-setting body FASB.
Seidman replaces Bob Herz, who retired in August.

SEC chairman Mary Schapiro commended Seidman for her continued service at FASB, having served with the standard setter since 2003.

“Her experience will facilitate the progress of important initiatives on the FASB agenda as they seek to continually improve the quality of financial reporting standards for the benefit of investors,” said Schapiro.

Seidman has previously favoured looser rules around fair value accounting, where her predecessor Herz backed a strict interpretation.

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