Seidman appointment receives positive reactions
Dec 29, 2010
As reported earlier, the Board of Trustees of the Financial Accounting Foundation (FAF) has named Leslie F. Seidman chairman of the US Financial Accounting Standards Board (FASB) effective immediately.
The United States Securities and Exchange Commission (SEC) welcomes the appointment: "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." (click for full SEC statement)
The American Institute of Certified Public Accountants (AICPA) through its Center for Audit Quality (CAQ) congratulates Ms Seidman and states: "The public company auditing profession looks forward to working with her as she oversees the development of U.S. accounting standards and coordinates convergence efforts with the International Accounting Standards Board." (click for full CAQ statement)
Financial Executives International (FEI) applauds the appointment: "We believe that Ms Seidman has done a remarkable job since taking on the role as Acting Chair in the fall of 2010. We are confident that she is well suited to lead the rest of the Board and work with organizations such as FEI to ensure the development of high quality accounting standards during this critical time for global standard setting." (click for full FEI statement)
Leslie Seidman herself had commented on the pivotal time of her appointment: "We are at a crucial point in our convergence program, and my fellow Board members and I are working in close partnership with the IASB to improve the comparability of financial information around the world." (click for FAF press release)