Experts and Chairmen of Accounting Regulatory Agencies Discuss Corporate Financial Reporting

Newswise — WHAT—At a time when the integrity of financial reporting is more important than ever, the 19th annual Conference on Financial Reporting at the University of California, Berkeley's Haas School of Business, Center of Financial Reporting and Management, gathers key global players " standard setters, enforcement officials, financial executives, practitioners, and academicians -- to address the critical role and future of financial reporting. Topics will include the SEC proposal for US companies to adopt international reporting standards; the impact of key regulatory proposals; and ways to improve financial reporting; and promote accounting practices that are useful to investors.

"This is an important and timely conference in that the US Securities and Exchange Commission (SEC) is moving away from US Generally Accepted Accounting Principles (GAAP) to adopt International Financial Reporting Standards (IFRS) bringing about a new set of challenges. In contrast to rule-based standards, IFRS is based on principles that rely on the professional judgment of the preparers of financial statements. This conference prompts discussion of pertinent safeguards necessary to prevent improper manipulations. The key decision makers of the US and international standards boards are convening in one place. This meeting will promote a better dialogue between practitioners and business leaders to influence the mindset of future accounting standards." " Solomon Darwin, CFRM Executive Director

WHENFriday, October 24, 2008 " 8:00 a.m. to 5:00 p.m.

WHERE Santa Clara Marriott Hotel2700 Mission College Blvd., Santa Clara, CA

WHO"¢Sir David Tweedie, Chairman, International Accounting Standards Board (IASB) "¢Robert Herz, Chairman, Financial Accounting Standards Board (FASB) "¢Barry Melancon, President & CEO, American Institute of Certified Public Accountants (AICPA)"¢Mark Olson, Chairman, Public Company Accounting Oversight Board (PCAOB)"¢Conrad Hewitt, Chief Accountant, US Securities and Exchange Commission"¢Gregory Jonas, Managing Director, Moody's Corporation"¢Senior Partners of the Big 4 accounting firms, CFOs and other key executives

Reporters are asked to schedule interviews in advance.