Bob Herz, the embattled Chairman of the US Financial Accounting Standards Board, is set to retire early.  He's shuffling off with effect from 1 October, and Leslie Seidman will serve as acting chair(wo)man until a more long term replacement can be found.  He's found it pretty hard going recently, as he attempts to introduce a number of difficult changes to US GAAP, many of them relating to fair value.  I blogged yesterday about some of the hostility he's facing, and there's some more here over at the Going Concern blog.

What many UK accountants may not realise is that Bob Herz is actually one of ours as well as being a US CPA.  It's also hard not to like him.  I met him at a breakfast meeting once, and he asked me where I'd come from.  I started telling him about my audit experience and he stopped me.  "No, I mean, where in London have you come from this morning..."

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Filed under: Accounting, Regulation with tags bob herz, fasb, leslie seidman, us gaap