Accountancy Age, Accountancy Age, Thursday 15 July 2010 at 09:41:00

FASB appoints "post-implementation review leader"

A former Big Four partner has been hired by the US accounting standard setterto review new rules after their release.

Recently retired Deloitte partner Mark Schroeder has been hired by FASB asthe board?s first "post-implementation review leader",Reutersnews agency reports.

FASB and its US counterpart the International Accounting Standards Board areoverhauling a number of major accounting standards including impairment andhedge accounting.

The IASB is also planning to bring in a post-implementation review of itsprojects.

Further reading:

FASBhires expert to review how new rules perform

Europemust stop its meddling, says FASB chief