NEWS RELEASE 03/31/10

FASB Chairman Robert H. Herz and IASB Chairman Sir David Tweedie to Discuss Global Accounting Issues at The George Washington University

Norwalk, CT, March 31, 2010—Robert H. Herz, chairman of the Financial Accounting Standards Board (FASB), and Sir David Tweedie, chairman of the International Accounting Standards Board (IASB), will discuss “Greater Global Transparency in Financial Reporting: Lighting the Path for Investors” as part of The George Washington University School of Business’ annual Robert P. Maxon Lecture. The event takes place on Wednesday, April 7, from 6:00 - 7:30 p.m. at The George Washington University’s Jack Morton Auditorium located at 805 21st Street, NW, in Washington, DC.

Moderated by former Washington Post business reporter Binyamin Appelbaum, the event will offer Mr. Herz and Mr. Tweedie an opportunity to share their views on key financial reporting issues impacting the capital markets and the political challenges affecting standard setting in the U.S. and overseas. They will also provide a progress report on the drive toward international convergence of accounting standards.

The Robert P. Maxon Lectureship brings distinguished figures to campus to broaden and deepen understanding about business issues and to enhance the educational experience of its students. This annual event was established through Dorothy Maxon’s endowment gift to the GWU School of Business in honor of her husband, Robert P. Maxon, B.A., ’48.

The event is free and open to the public. For more information, visit http://www.business.gwu.edu/icr/maxon10_lecture.asp.


About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.

About the International Accounting Standards Board

The IASB was established in 2001 and is the standard-setting body of the International Accounting Standards Committee (IASC) Foundation, an independent, private sector, not-for-profit organisation. The IASB is committed to developing, in the public interest, a single set of high quality, global accounting standards that provide high quality, transparent and comparable information in general purpose financial statements. In pursuit of this objective the IASB conducts extensive public consultations and seeks the co-operation of international and national bodies around the world. The IASB has 15 full time members drawn from ten countries and a variety of professional backgrounds. By 2012 the IASB will be expanded to 16 members. Members are appointed by and accountable to the Trustees of the IASC Foundation, who are required to select the best available combination of technical expertise and diversity of international business and market experience. In their work the Trustees are accountable to a Monitoring Board of public authorities.