This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Representatives of the SEC, PCAOB, and FASB Testify Before Congress on Financial Reporting Standards

Published on: 25 May 2010

Last Friday, James L. Kroeker, chief accountant in the SEC’s Office of the Chief Accountant; Daniel L. Goelzer, acting chairman of the PCAOB; and Robert H. Herz, chairman of the FASB, testified before the U.S. House of Representatives Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Entities about pending proposals and emerging issues associated with accounting and auditing standards. In their remarks before Congress, Mr. Kroeker and Mr. Herz touched on convergence of U.S. and global financial reporting standards and recent accounting and reporting challenges, including securitizations and other involvements with special-purpose entities, fair value, and impairments. Mr. Goelzer testified about the PCAOB’s response to audit issues raised by the financial crisis, its standard-setting initiatives, and the Supreme Court case challenging the Board’s constitutionality.

Accounting Journal Entries Image

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.