Among those testifying were Paul A. Volcker, Chairman of the IASC Foundation Trustees, and Robert H. Herz, Chairman of the US Financial Accounting Standards Board. You can download their (and other) testimony at the
Committee's Website. You can also find their testimony on our
Resources Page. The committee held the hearing in connection with proposed legislation that has been introduced in the House of Representatives (H.R.1372, the
"Broad-Based Stock Option Plan Transparency Act of 2003") that would, in effect, impose a three-year moratorium on SEC recognition of "any new accounting standards related to the treatment of stock options".