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Professor Daniel Jensen, Chairman of the Accounting Hall of Fame Committee, has sent the following public announcement.

Robert H. Herz Elected to The Accounting Hall of Fame

Columbus, OH – Robert H. Herz, former chairman of the Financial Accounting Standards Board, has been elected to The Accounting Hall of Fame. Honorees are selected annually by the Accounting Hall of Fame’s international board of electors. Eighty-nine influential and respected accountants from academe, accounting practice, government and business have been elected to the Accounting Hall of Fame since its establishment in 1950 at The Ohio State University’s Fisher College of Business.

Mr. Herz served two terms as Chair of the Financial Accounting Standards Board from 2002 to 2010. Prior to joining the FASB, he was a senior partner with PricewaterhouseCoopers, serving as North American Theater Leader of Professional, Technical, Risk & Quality and a member of the firm’s Global and U.S. Boards. He also served as a part-time member of the International Accounting Standards Board. Mr. Herz joined Price Waterhouse in 1974 upon graduation from the University of Manchester (UK). He has authored numerous publications on a variety of accounting, auditing and business subjects, including the book, The Value Reporting Revolution: Moving Beyond the Earnings Game.

I asked Bob Herz about his personal response to the news.  He said,

My immediate reaction was ‘Wow, this is quite an honor.’  I know and greatly respect many of the living members of the Accounting Hall of Fame and, as a student of accounting history, I have read about many of the past members of the Hall who helped shape our profession and accounting and auditing theory and practice. It also reminded me of how lucky I have been in my choice of profession and in the many wonderful colleagues I have had throughout my career.

It is quite an honor, indeed.  Congratulations.  You deserve it.

Debit and credit – – David Albrecht


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Robert Herz

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!

Stay tuned.

Debit and credit – – David Albrecht


Want more of The Summa? Sign up to receive email notification of posts.  And please follow me on Twitter (@profalbrecht).

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