FASB supports Improvements to Financial Reporting

27 June 2007

US FASB Chairman Robert Herz applauded the SEC and its Chairman Christopher Cox on establishing an advisory committee to explore ways to improve financial reporting by reducing the complexity and increasing the usefulness of reported financial information.

'The SEC, PCAOB, and FASB have been discussing the need for an advisory panel to explore issues and opportunities to improve financial reporting for some time”, Chairman Herz said. “This advisory committee represents an important step toward addressing the institutional, structural, cultural, and behavioral issues that create complexity, reduce transparency, and impede usefulness of reported information to investors.'

Press release

© Graham Bishop