Global Adoption of International Accounting Standards

NASD and PIFS presented the first symposium in NASD’s International Securities Symposium Series, which addresses key issues related to transparency and efficiency in the capital markets. The symposia provide a forum for leaders from the financial services industry, important policy makers, and international experts to engage in critical analysis and discussion of selected topics of the day.

NASD’s inaugural symposium, “Global Adoption of International Accounting Standards,” focused on one of the pivotal challenges facing markets today: establishing a set of internationally accepted standards governing companies’ reporting of their financial performance. The symposium was held at Harvard Law School on February 3, 2003, and began with remarks by Howard Davies, Chairman, Financial Services Authority, and Robert Glauber, Chairman and Chief Executive Officer, NASD. Hal Scott (Director of PIFS) moderated.
Symposium participants featured global thought leaders, including:

• Ray Ball, Professor, Chicago Graduate School of Business

• Henrik Bjerre-Nielsen, Director General, Danish Financial Supervisory Authority

• Sir Brian Corby, Chairman (retired), Prudential Assurance Company

• Samuel A. DiPiazza, Jr., Chief Executive Officer, PricewaterhouseCoopers

• Peter R. Fisher, Under Secretary, U.S. Department of the Treasury

• Robert Herz, Chairman, Financial Accounting Standards Board

• Lewis B. Kaden, Partner, Davis Polk & Wardwell

• Leo C. O’Neill, President, Standard & Poor’s

• Henry M. Paulson, Jr., Chairman and Chief Executive Officer, The Goldman Sachs Group, Inc.

• Hardwick Simmons, Chairman and Chief Executive Officer, NASDAQ

• Sir David Tweedie, Chairman, International Accounting Standards Board