ROBERT ZICKLIN CENTER FOR CORPORATE INTEGRITY HOLDS 5TH ANNUAL FINANCIAL REPORTING CONFERENCE

Thursday, May 4, 2006

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              New York, NY, April 27, 2006--Executive compensation, pensions and the Sarbanes-Oxley Act will be on the agenda at the 5th Annual Financial Reporting Conference organized by the Robert Zicklin Center for Corporate Integrity at Baruch College.  The conference, which takes place on Thursday, May 4, 2006, 8:15 am to 5:15 pm, brings together all major stakeholders in the ongoing quest for transparency of financial reporting and fair presentation of the financial statements of major corporations.

              Robert Herz, Chairman of the FASB, and Scott Taub, Acting Chief Accountant of the SEC will deliver the opening remarks on their most recent thinking on making complex business transactions more transparent to users of financial statements (8.30 – 9.15).  Susan Markel, Chief Accountant of the Enforcement Division, and Craig Olinger, Deputy Chief Accountant of the Division of Corporate Finance, will join Scott in outlining current SEC initiatives. (9:15 am to 10:40 am.)

              Consolidated financial statements and convergence of International and US accounting standards are among the new developments addressed by experts from KPMG and Deloitte Touche as well as by Leslie Seidman, Board Member, FASB and Robert Laux, Director Accounting and Reporting, Microsoft Corp. (11 am to 12:25 pm)

              Afternoon sessions will be devoted to the FASB’s movement toward fair value accounting, accounting for business combinations, and to the contentious issues of pensions and leases.  Speakers include partners from PWC and Ernst and Young, the controllers of  AOLTimeWarner and Coca Cola, Patricia McConnell, Senior Managing Director, Bear Sterns who is a well known voice for investors and the public, as well as Robert Herz.

              The lunchtime speaker is Charles Niemeier, Board member of the Public Company Accounting Oversight Board (PCAOB) will talk on implementation of Sarbanes-Oxley.

Media Contact: Zane Berzins, News & Public Information Director, (646) 660-6113, zane_berzins@baruch.cuny.edu