NEWS RELEASE 03/31/10
FASB Chairman Robert H. Herz and IASB Chairman Sir David Tweedie to Discuss
Global Accounting Issues at The George Washington
University
Norwalk, CT, March 31, 2010—Robert H. Herz,
chairman of the Financial Accounting Standards Board (FASB), and Sir David
Tweedie, chairman of the International Accounting Standards Board (IASB), will
discuss “Greater Global Transparency in Financial Reporting: Lighting the Path
for Investors” as part of The George Washington University School of Business’
annual Robert P. Maxon Lecture. The event takes place on Wednesday, April 7,
from 6:00 - 7:30 p.m. at The George Washington University’s Jack Morton
Auditorium located at 805 21st Street, NW, in Washington, DC.
Moderated
by former Washington Post business reporter Binyamin Appelbaum, the
event will offer Mr. Herz and Mr. Tweedie an opportunity to share their views on
key financial reporting issues impacting the capital markets and the political
challenges affecting standard setting in the U.S. and overseas. They will also
provide a progress report on the drive toward international convergence of
accounting standards.
The Robert P. Maxon Lectureship brings
distinguished figures to campus to broaden and deepen understanding about
business issues and to enhance the educational experience of its students. This
annual event was established through Dorothy Maxon’s endowment gift to the GWU
School of Business in honor of her husband, Robert P. Maxon, B.A.,
’48.
The event is free and open to the public. For more information,
visit http://www.business.gwu.edu/icr/maxon10_lecture.asp.
About
the Financial Accounting Standards Board
Since 1973, the
Financial Accounting Standards Board has been the designated organization in the
private sector for establishing standards of financial accounting and reporting.
Those standards govern the preparation of financial reports and are officially
recognized as authoritative by the Securities and Exchange Commission and the
American Institute of Certified Public Accountants. Such standards are essential
to the efficient functioning of the economy because investors, creditors,
auditors, and others rely on credible, transparent, and comparable financial
information. For more information about the FASB, visit our website at http://www.fasb.org/.
About
the International Accounting Standards Board
The IASB was
established in 2001 and is the standard-setting body of the International
Accounting Standards Committee (IASC) Foundation, an independent, private
sector, not-for-profit organisation. The IASB is committed to developing, in the
public interest, a single set of high quality, global accounting standards that
provide high quality, transparent and comparable information in general purpose
financial statements. In pursuit of this objective the IASB conducts extensive
public consultations and seeks the co-operation of international and national
bodies around the world. The IASB has 15 full time members drawn from ten
countries and a variety of professional backgrounds. By 2012 the IASB will be
expanded to 16 members. Members are appointed by and accountable to the Trustees
of the IASC Foundation, who are required to select the best available
combination of technical expertise and diversity of international business and
market experience. In their work the Trustees are accountable to a Monitoring
Board of public authorities.