December 23, 2010

CAQ Congratulates New FASB Chairman Leslie Seidman

Washington, DC – The Center for Audit Quality (CAQ) has issued the following statement by Executive Director Cindy Fornelli in reaction to the appointment of Leslie Seidman as Chairman of the Financial Accounting Standards Board (FASB):

“The CAQ congratulates Leslie Seidman on her appointment as the FASB’s new chairman. Leslie has been an active member of the FASB board since 2003 and as the acting chairman since October has shown herself to be a strong and thoughtful leader.

She is talented, dedicated and well-suited to carry out the FASB’s critical mission of establishing and improving standards of financial accounting and reporting for use by public company auditors and other nongovernmental entities to provide useful information to investors and other users of financial reports. 

The public company auditing profession looks forward to working with her as she oversees the development of U.S. accounting standards and coordinates convergence efforts with the International Accounting Standards Board.” 

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The Center for Audit Quality (CAQ) is an autonomous public policy organization dedicated to enhancing investor confidence and public trust in the global capital markets. The CAQ fosters high quality performance by public company auditors, convenes and collaborates with other stakeholders to advance the discussion of critical issues requiring action and intervention, and advocates policies and standards that promote public company auditors’ objectivity, effectiveness and responsiveness to dynamic market conditions. Based in Washington, D.C., the CAQ is affiliated with the American Institute of Certified Public Accountants. For more information, visit www.thecaq.org