FASB chairman defends accounting standards, calls for GAAP to be "decoupled" from banking regulation

12/9/2009 | JournalofAccountancy.com

FASB Chairman Robert Herz wants GAAP to be "decoupled" from bank regulation. In a speech outlining policy objectives at an AICPA conference, Herz also defended his group'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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