LOS ALTOS, Calif. and AMES, Iowa--(BUSINESS WIRE)--WebFilings, developer of the first and only end-to-end solution for external financial reporting, announced today that Robert Herz, former Chairman of the Financial Accounting Standards Board (FASB), has joined the company as Senior Advisor.
“As a forward-thinking accounting industry leader, Bob brings a unique and valuable perspective to our team,” said Matthew Rizai, CEO of WebFilings. “We are extremely excited to leverage his knowledge and experience as we continue to evolve our industry-leading product and service offerings.”
Herz, who was Chairman of the FASB from July 2002 through September 2010, sees joining WebFilings as a unique and significant opportunity to help advance the tools of the profession. “I’m thrilled to be able to contribute to the WebFilings team and associate myself with such an innovative company,” said Herz. “The WebFilings collaborative solution is a huge leap forward for financial reporting – a pioneering technology platform that takes a holistic approach to streamlining financial reporting.”
Prior to his work at the FASB, Herz was a senior partner with PricewaterhouseCoopers where he was North America Theater Leader of Professional, Technical, Risk & Quality and a member of the firm’s Global and U.S. Boards. He was also President of the PricewaterhouseCoopers Foundation which supports college and university activities. And, he served as a part-time member of the International Accounting Standards Board. Herz is both a U.S. Certified Public Accountant and a U.K. Chartered Accountant and a gold medal winner on the uniform CPA examination.
Herz has authored numerous publications on a variety of accounting, auditing and business subjects, including co-authoring the book, The Value Reporting Revolution: Moving Beyond the Earnings Game. He is a frequent speaker at major business and accounting conferences, is regularly quoted in the major news media and has appeared on a number of television and cable business shows.
Herz has participated in a number of other accounting industry activities including serving as Chairman of the AICPA SEC Regulations Committee and the Transnational Auditors Committee of the International Federation of Accountants, and serving as a member of the Emerging Issues Task Force, the FASB Financial Instruments Task Force, the American Accounting Association’s Financial Accounting Standards Committee, the SEC Practice Section Executive Committee of the AICPA, and the International Capital Markets Advisory Committee of the New York Stock Exchange. He has also served on various public policy commissions and governmental advisory groups.
Herz says he has always had an interest in technology and accounting, and views his role with WebFilings as an opportunity to impart his broad experience on the technology evolution of the financial reporting industry. “I’ve long been an advocate of making better use of technology in the financial reporting process,” said Herz. “And with WebFilings, you have a breakthrough technology solution that will truly benefit preparers of financial reports, and has the potential to transform the reporting process.”
WebFilings’ SaaS (software as a service) solution is available as a subscription service. The software is the only cloud-based, end-to-end compliance reporting solution and completely replaces the cumbersome manual process companies currently use to create their SEC reports. WebFilings’ single-document data model ensures that text reports, EDGAR HTML and XBRL documents are always synchronized. The company also offers a variety of support and professional services. For more information or to schedule a software demonstration, visit WebFilings.com or call 888-275-3125.
WebFilings is a privately-held Los Altos, California and Ames, Iowa-based company that offers the first and only end-to-end solution for external financial reporting. The company develops and markets a fully-integrated, cloud-based solution dedicated to meeting SEC reporting requirements. With WebFilings, reporting teams collaborate in real-time on their financial reports from accounting close through SEC acceptance – including integrated EDGAR HTML conversion and XBRL mapping and tagging. As a result, WebFilings reduces the time, risk, and costs associated with the entire external reporting process. For more information, visit WebFilings.com.
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