I have confirmed with Professor Emeritus Daniel L. Jensen, Chair of the Accounting Hall of Fame Committee, that Robert H. Herz has been selected for induction into the Accounting Hall of Fame.
Robert Herz was chair of the Financial Accounting Standards Board (FASB) from 2002-2010. Prior to that he served part-time on the International Accounting Standards Committee (IASC), and was a partner at PriceWaterhouseCoopers (PWC).
The induction probably will take place in Washington, D.C., in August at the annual meeting of the American Accounting Association.
An official press release is forthcoming later this week. I have asked Mr. Herz for a comment.
Dennis R. Beresford, former Chair of the FASB and current professor at U of Georgia Terry School of Business, has this to say:
Bob Herz is the first person who has served on both the IASB and FASB. He served with great distinction as FASB Chairman for over eight years during some very challenging times for the Board. Probably his greatest contribution was his untiring work to converge accounting standards worldwide while not sacrificing the high quality of U.S. standards in the bargain. Bob continues to serve the profession as an Executive in Residence at Columbia University, a member of the board of directors and audit committee of Fannie Mae, a member of the PCAOB Standing Advisory Group, and in many other capacities. And he continues to speak to numerous academic and other audiences on important accounting issues of the day. In short, I think he’s clearly a terrific choice for the Accounting Hall of Fame!
Debit and credit – – David Albrecht