Post date: January 30, 2003 -- 1 p.m.
On Feb. 3, Professor Hal S. Scott, director of the HLS Program on International Financial Systems, will moderate a panel discussion on the merits of establishing a set of global accounting standards. The symposium, sponsored by NASD, will feature participants from industry and government regulatory authorities around the globe.
Among those scheduled to participate in the symposium are Sir Howard Davies, chairman of the UK's Financial Services Authority; Henry Paulson Jr., chairman and CEO of Goldman Sachs; Sir David Tweedie, chairman of the International Accounting Standards Board; Roel Campos, SEC commissioner; Peter Fisher, U.S. Treasury undersecretary; and Robert Glauber, chairman and CEO of NASD.
"Reliable and consistent accounting is a cornerstone of market transparency, and therefore, the topic of this forum is one that impacts companies and individuals around the world," said Douglas H. Shulman, NASD's president of regulatory services and operations.
Other participants in the symposium are Ray Ball, professor of accounting, University of Chicago Graduate School of Business; Henrik Bjerre-Nielsen, director general, Danish Financial Supervisory Authority; Sir Brian Corby, chairman (retired), Prudential Assurance Company; Samuel DiPiazza Jr., CEO, PricewaterhouseCoopers; Robert Herz, chairman, Financial Accounting Standards Board; Lewis B. Kaden, partner, Davis Polk & Wardwell; Leo C. O'Neill, president, Standard & Poor's; and Hardwick Simmons, chairman and CEO, NASDAQ.
"I expect a lively discussion of whether it is desirable or feasible to have one global accounting standard," said Professor Scott. "A key part of this discussion is whether the efforts of the U.S. Financial Accounting Standards Board and the International Accounting Standards Board to achieve convergence of their two standards will succeed."
The Harvard Law School Program on International Financial Systems was founded in 1986. It was established to conduct research linking law, economics and finance. In the past fifteen years it has published books, held symposia, and provided technical assistance to a variety of countries.
PLEASE NOTE: This event is not open to the public. Members of the media interested in attending should contact Nancy A. Condon (202-728-8379) or Michael Shokouhi (202-728-8304) at the NASD.