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Robert Herz has led FASB through a period of tremendous change in the accounting profession. The former PricewaterhouseCoopers chief technical partner took the helm at FASB on July 1, 2002, just weeks before the Sarbanes-Oxley Act was signed into law. Within four months of his arrival, FASB and the International Accounting Standards Board (IASB) would ink the Norwalk Agreement, committing to develop a single set of accounting standards that could be used internationally for domestic and cross-border financial reporting. Early in his tenure, Herz also set a goal of simplifying and improving U.S. GAAP.
In July 2007, Herz was reappointed to a second ...