Wide-ranging policy address by FASB chairman

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11 Nov 2002

In a major policy address at the Annual Current Financial Reporting Issues Conference of Financial Executives International, FASB Chairman Robert H.

Herz addressed many aspects of convergence of US GAAP and IFRS and the implications of a principles-based approach to setting accounting standards in the United States. He also outlined the FASB's current examination of whether modifications in the current structure of US accounting standard setting – including the roles, composition, and processes of the EITF and AcSEC – would improve the overall quality and effectiveness of U.S. accounting standard setting. Click for:

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