Facts about FASB
Robert H. Herz
Robert H. Herz was appointed chairman of the Financial Accounting Standards Board (FASB), effective July 1, 2002, and was reappointed to a second term effective July 1, 2007. Previously, he was a senior partner with PricewaterhouseCoopers.
Before joining the FASB, Mr. Herz was PricewaterhouseCoopers' North America 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 (IASB). Mr. Herz is both a certified public accountant and a chartered accountant.
Mr. Herz joined Price Waterhouse in 1974 upon graduating from the University of Manchester in England with a B.A. degree in economics. He later joined Coopers & Lybrand becoming its senior technical partner in 1996 and assumed a similar position with the merged firm of PricewaterhouseCoopers in 1998.
During his distinguished career, Mr. Herz has authored numerous publications on a variety of accounting, auditing, and business subjects. Included among those contributions is the recent book, The Value Reporting Revolution: Moving Beyond the Earnings Game, which he co-authored.
Over the course of his career, Mr. Herz gained significant investment experience, having held positions involving fiduciary and investment management responsibilities for significant pension plans, endowment funds, and other types of pooled investments.
Among Mr. Herz’s other activities, he chaired the AICPA SEC Regulations Committee and the Transnational Auditors Committee of the International Federation of Accountants, and served as a member of the Emerging Issues Task Force (EITF), the FASB Financial Instruments Task Force, the American Accounting Association’s Financial Accounting Standards Committee, the SEC Practice Section Executive Committee of the AICPA, and the International Capital Markets Advisory Committee of the New York Stock Exchange.