FEI Members Named to SEC Advisory Committee on Improving Financial Reporting

August 1, 2007

FEI Summary

Financial Executives International (FEI) members figure prominently in a select group of 17 senior financial officers, auditors, audit committee representatives and others named to the Securities and Exchange Commission (SEC) Advisory Committee on Improvements to Financial Reporting.

FEI members named to the committee include: Denny Beresford, of the University of Georgia (who is also an advisory member to FEI’s Committee on Corporate Reporting (CCR) and a former FASB chairman); Susan Bies (former Federal Reserve Board Governor); David Sidwell (CFO, Morgan Stanley and a member of FEI’s Committee on Corporate Reporting); Christopher Liddell (Microsoft CFO); and Edward McClammy (senior vice president, CFO and treasurer, Varian Inc.).   

As noted in SEC’s July 31 press release announcing the committee members, the group will hold its first meeting on August 2 and the meeting will be webcast.

The SEC has posted an agenda for the meeting and a related Discussion Paper. FEI members can download a summary of key points from the Discussion Paper here.  (For information on FEI membership, click here.)

Some of the points raised in the SEC Discussion Paper are also noted in FEI’s Four Point Plan for Reducing Complexity in Financial Reporting, published March 29, 2007.

This summary does not represent FEI opinion unless expressly stated above.