Robert Herz

As we approach the end of 2011 I thought I would provide an update on some important developments in accounting and auditing that I have written about over the year.  In February, I provided an overview of the many ongoing developments in financial reporting, with a particular focus on several major accounting  standard-setting projects between […]

The Public Company Accounting Oversight Board issued a concept release on auditor independence and mandatory firm rotation this summer. The release seeks public comment on ways to enhance the independence, objectivity, and professional skepticism of external auditors, with a focus on mandatory audit firm rotation by Securities and Exchange Commission registrants. While the concept release […]

Not long ago the Securities and Exchange Commission Chief Accountant James Kroeker announced the establishment of periodic public roundtables called the “Financial Reporting Series.” The goal of the series is to bring together representatives of various stakeholder groups to discuss risks related to financial information provided to investors and how to improve them. I see […]

The staff of the Securities and Exchange Commission recently announced that it will hold public roundtables on July 7 on the potential benefits and challenges of incorporating International Financial Reporting Standards into financial reporting by U.S. issuers. The SEC has also published a related staff paper on a possible method of incorporation of IFRS. These […]

Earlier this year the Financial Accounting Standards Board and the International Accounting Standards Board issued a joint proposal on offsetting assets and liabilities on the balance sheet, also known as “netting.” This is an important issue. It affects the amount of total assets and liabilities companies report on their balance sheets, and can therefore directly […]