Opening Remarks from the SEC and FASB

Richard Jones, and Paul Munter

About the SpeakersRichard Jones is the Chair of the Financial Accounting Standards Board (FASB). He began his term as the eighth chair of FASB in July 2020. Prior to that, Jones was a partner at Ernst & Young and served as the firm's chief accountant on technical accounting matters. Paul Munter is the acting chief accountant in the Office of the Chief Accountant (OCA) at the Securities and Exchange Commission (SEC). He was named the acting chief accountant in 2021; previously, he was a deputy chief accountant. He earned his PhD in accounting from the University of Colorado. Jones and Munter presented the opening remarks at Baruch College's 20th Annual Financial Reporting Conference, held on May 4–5, 2022. The following is an edited transcript of their remarks. The views expressed are their own and not necessarily those of the SEC, FASB, the commissioners, the board members, or the staff. Official positions of FASB are only reached after extensive due process and deliberations.