FASB chairman calls for decoupling of GAAP, banking regulation

12/9/2009 | Journal of Accountancy online

Financial Accounting Standards Board Chairman Robert Herz wants Generally Accepted Accounting Principles "decoupled" from bank regulation. Herz defended the FASB's stance on fair-value accounting standards. "Our focus as accounting standard setters is on the communication of relevant, reliable, transparent, timely, and unbiased financial information on corporate performance and financial condition to investors and the capital markets," Herz said.

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