Edmund L. Jenkins has been named chairman of the Financial Accounting Standards Board. Mr. Jenkins recently retired as managing partner of the Professional Standards Group of Arthur Andersen LLP's worldwide practice.
The appointment was announced by J. Michael Cook, chairman and chief executive officer of Deloitte & Touche LLP and chairman of the Financial Accounting Foundation, which funds, oversees, and appoints the members of the FASB and the Governmental Accounting Standards Board. Mr. Jenkins' five-year term begins July 1.
Mr. Jenkins is chairman of the Special Committee on Financial Reporting, constituted by the American Institute of CPAs and referred to as the "Jenkins Committee." The committee published its report, "Improving Business Reporting-A Customer Focus," in 1994.
During his 38-year career at Arthur Andersen, Mr. Jenkins was managing partner of the firm's accounting and audit practice, holding worldwide responsibility for the largest segment of the firm's professional practice.