A Special Panel Discussion at Albion College
Challenges and Emerging Issues in Financial Regulation and Reporting:
A Global Perspective
Tuesday, April 5, 2011, 7-8 p.m.
Science Complex Atrium
Robert H. Herz, Chairman, Financial Accounting Standards Board, 2002-2010
Edmund L. Jenkins, '57, Chairman, Financial Accounting Standards Board, 1997-2002
James J. Leisenring, '62, Senior Advisor, Financial Accounting Standards Board, 2010-Present
Richard L. Baird, '78, Global and U.S. Co-Leader–People and Change Management, PricewaterhouseCoopers (Retired)
Significant industry expertise and leadership come together in a unique event hosted by Albion College. Among the topics the panel could discuss:
- International accounting policies and principles vis-à-vis U.S. accounting standards
- America's role in a global financial landscape
- Ethical issues in financial accounting
- The response of the accounting profession to the current recession
- The role of Congress in financial regulation today
The panel discussion is offered free of charge. The public is encouraged to attend.
About the Panelists
Robert H. Herz served as FASB chair from July 2002 until 2010. Prior to leading the FASB, Herz was PricewaterhouseCoopers North America theater leader of Professional, Technical, Risk & Quality and a member of the firm’s Global and U.S. boards. He was also president of the PricewaterhouseCoopers Foundation, which supports college and university activities, and served as a part-time member of the International Accounting Standards Board. In addition to his U.S. certification, Herz is a U.K. chartered accountant and a gold medal winner on the uniform CPA examination.
Earlier in his career, Herz was a senior technical partner with Coopers & Lybrand's Corporate Finance Advisory Services and served as audit partner for numerous major clients. He is a former chair of the AICPA SEC Regulations Committee and the Transnational Auditors Committee of the International Federation of Accountants, and served on the Emerging Issues Task Force, the FASB Financial Instruments Task Force, the American Accounting Association’s Financial Accounting Standards Committee, the SEC Practice Section Executive Committee of the AICPA, and the International Capital Markets Advisory Committee of the New York Stock Exchange. Herz has authored numerous publications, including co-authorship of The Value Reporting Revolution: Moving Beyond the Earnings Game. He is a graduate of the University of Manchester in England with a B.A. first class honors degree in economics.
Edmund L. Jenkins, '57, served as chairman of the Financial Accounting Standards Board from July 1, 1997, through June 30, 2002. Previously, he was a senior partner with Arthur Andersen and managing partner of the Professional Standards Group, which represented Arthur Andersen before the FASB and federal regulators, including the Securities and Exchange Commission, with respect to accounting, auditing, and financial reporting. During his 38-year career at Arthur Andersen, he also served as managing partner of its accounting and audit practice, holding worldwide responsibility for the largest segment of the firm's professional practice.
Jenkins chaired the Special Committee on Financial Reporting constituted by the American Institute of CPAs (AICPA) and referred to as the "Jenkins Committee." A charter member of the FASB's Emerging Issues Task Force, Jenkins also served on the FASB's Advisory Council. In 2005, Jenkins was admitted to the Accounting Hall of Fame and was also the recipient of the Special Recognition Award of the AICPA for his lifetime achievements in the accounting profession. Along with being a former member of the Albion College Board of Trustees executive committee, Jenkins has served on civic and higher education boards for the DePaul University School of Accounting, the University of Southern California School of Accounting, and the University of Arizona Medical Center. He currently also serves as a consultant on accounting and financial reporting matters. Jenkins holds an M.B.A. from the University of Michigan and honorary doctorates from Albion College, DePaul University, and Lycoming College. Jenkins was also the tenth recipient of Albion's Meritorious Service Award.
James J. Leisenring, '62, was appointed senior advisor to the FASB in 2010 at the culmination of his nine-year term with the International Accounting Standards Board (IASB). Leisenring first joined the staff of the FASB in 1982 as director of research and technical activities and became chairman of the Emerging Issues Task Force when it was formed in 1984. He eventually joined the FASB and served as its vice chair and then as director of international activities. Within the FASB, he also served as chairman of the FASB Derivatives Implementation Group and the FASB Financial Instruments Task Force.
Leisenring was also a member of the International Joint Working Group on Financial Instruments and served as chairman of the G4+1 group of standard setters. Prior to joining the FASB, Leisenring was a partner and director of accounting and auditing for Bristol, Leisenring, Herkner & Co. of Battle Creek, Mich. Leisenring holds an M.B.A. from Western Michigan University and is a member of the Accounting Hall of Fame.
About the Moderator
Richard L. Baird, '78, retired from PricewaterhouseCoopers, LLP in 2010 as global and U.S. co-leader for people and change management for PwC's Advisory Services division. Prior to that move, he was global managing partner for people, responsible for human resources, including international assignments, and education for PwC's 150,000 partners and staff. He has been featured or referenced in The Wall Street Journal, The Economist, Global HR News, and the Chicago Tribune for his work creating PwC programs specifically designed for leadership development within their workforce.
He served on numerous international initiatives and task forces during a 25-year tenure with PwC and collaborated with the principal authors of The Global Business Leader (2007). Baird has also authored or co-authored several books, with a special focus on leadership and organizational development. Baird served for two years as president of the LAI Worldwide subsidiary, LAIcompass.com, whose online assessment tool eventually became part of the Internet service offering under Monster.com.
He is a past member of the U.S. board of directors for AIESEC, the world's largest collegiate student leadership development organization, and a current a member of the Dean's Advisory Council for INSEAD, a global executive program and M.B.A. institution with campuses in France, Singapore, and Abu Dhabi. A former chair of Albion College's Board of Trustees, Baird holds honorary doctorates from Albion College and Eastern Michigan University.