Newswise — The Haas School of Business at the University of California, Berkeley, will honor an advocate for ethics and transparency in financial reporting, John C. Bogle, founder of the Vanguard Group, with the Berkeley Award for Distinguished Contributions to Financial Reporting. The award will be presented at the school's 17th annual Conference on Financial Reporting on Friday, October 27, at the San Francisco Marriott Hotel.
Bogle will also deliver the conference keynote address, "A Tale of Two Markets," a look at earnings management and ethics in financial reporting.
A committee of accounting standard setters, corporate financial executives, and academics selected Bogle for this award. "Mr. Bogle is an outspoken advocate of strong business ethics and an ambassador for the high quality financial reporting to which Haas is committed," says Solomon Darwin, executive director of the Haas School's Center for Financial Reporting and Management, which is presenting the conference.
Bogle is founder of the Vanguard Group, Inc., one of the two largest mutual fund organizations in the world. He is also president of Vanguard's Bogle Financial Markets Research Center. Bogle created Vanguard in 1974 and served as chairman and chief executive officer until 1996 and senior chairman until 2000. The Vanguard 500 Index Fund, the largest fund in the group and the first index mutual fund, was founded by Bogle in 1975.
In 2004, Time magazine named Bogle one of the world's 100 most powerful and influential people. He had previously been designated as one of the investment industry's four "Giants of the 20th Century" by Fortune in1999. He is a recipient of the Woodrow Wilson Award from Princeton University for "distinguished achievement in the nation's service."
Bogle is the author of numerous books on investing, as well as Battle for the Soul of Capitalism, his 2005 look at corporate excess and what he sees as the misplaced priorities of mutual fund firms. His newest book, The Little Book of Index Investing: The Only Guaranteed Way to Earn Your Fair Share of Financial Market Returns will be published in March 2007.
The conference will also feature a series of panel discussions, including one on current issues at the SEC and Public Company Accounting Oversight Board (PCAOB) that will include a guidance update on FAS 123, the accounting rule requiring that stock options given to executives be expensed on corporate income statements. Viewpoints from accounting, oversight, the corporate arena, and government will all be represented. Panelists include: Toby Bishop, forensic and dispute services partner, Deloitte; Bill Gradison, immediate past acting chairman and founding member of (PCAOB); Grace Hinchman, senior vice president, Financial Executives International; and Carol Stacey, chief accountant, SEC Division of Corporation Finance.
CPE credit may be earned through attendance at this conference.
For more conference information and to register, visit http://groups.haas.berkeley.edu/accounting/cfrm/conferences/17annual/.
A high-res image of Mr. Bogle is available with this release.
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