Ned Regan, Baruch College President, Named Trustee of Financial Accounting Foundation, the FASB Oversight Board

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BARUCH COLLEGE, NEW YORK, NY (10/30/03) Ned Regan, president of Baruch College and a former four-term Comptroller of the State of New York, has been named a trustee of the Financial Accounting Foundation, the board that is responsible for overseeing and selecting the members of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

Regan, a frequent commentator on issues of accounting and auditing standards and the corporate governance issues that assure the ethical application of such standards, returns to the FAF Board, where he also served from 1997 to 2000.

When I came to Baruch in June of 2000, I left the FAF board, Regan said of his appointment. I wanted to make sure all my energies were directed at learning about this complex and vital institution. Now, with the work were doing at the Center for Financial Integrity, my return to the FAF board is a great fit with the mission and leadership of this College.

He added, Baruch is taking a leading role on issues of transparency and integrity in accounting, auditing, and governance. Through our conferences and research, were dealing with principles-based accounting, international accounting standards, and non-financial measures of corporate performance. There is no better place to bring our message to the New York and United States financial community, and learn more about the best practical ways to achieve these aims, which everyone shares, than through the FAF.

The appointment is effective January 1, 2004. Regan, prior to becoming Baruchs president, was New York State Comptroller from 1979 to 1993 and later served as a member of several corporate and non-profit boards. He is an alumnus of Hobart College and earned a law degree from the State University of New York School of Law. A trustee of the Oppenheimer Mutual Funds and chair of Oppenheimer's audit committee, he is a frequent commentator in the media on issues of corporate governance as well as public finances and the changing landscape of accounting and auditing standards.

Regans appointment coincides with the election of Robert E. Denham, Senior Partner, Munger, Tolles & Olson LLP, as Chairman and President of the FAF.

Baruch College , a senior college in the City University of New York, is one of the most competitive public colleges in New York State and has, in its Zicklin School of Business, the largest accredited business school in the nation. Its Center for Financial Integrity was founded in 2000 and is committed to high-profile public discussion and ongoing scholarship on matters of ethics in accounting, auditing, public oversight, and corporate governance.

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