FASB: Chairman's resignation won't hinder mark-to-market work

08/25/2010 | iMarketNews.com

Neal McGarity, a spokesman for the Financial Accounting Standards Board, said the resignation of Chairman Robert Herz will "not at all" hinder progress on mark-to-market accounting rules. McGarity said the board will hold public round tables after collecting comments on draft rules for financial-instrument accounting. "The FASB will evaluate all input in an effort to create standards that will best serve investors and others who rely on good financial accounting and reporting," he said. "We expect a seamless transition in naming a fifth board member soon."

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