Biography

Scott A. Taub is a managing director of Financial Reporting Advisors, LLC (FRA). Based in Chicago, Illinois, FRA provides consulting services related to accounting and SEC reporting. FRA specializes in applying generally accepted accounting principles to complex business transactions, offering clients an unbiased assessment of the accounting literature as applied to their situation. Mr. Taub is a member of the IASB’s International Financial Reporting Interpretations Committee (IFRIC).

Mr. Taub spent 6 ½ years as a professional accounting fellow, deputy chief accountant, and acting chief accountant at the Securities and Exchange Commission (SEC). He played a key role in the implementation of the Sarbanes-Oxley Act, and was responsible for the day-to-day operations of the Office of the Chief Accountant, including resolution of accounting and auditing practice issues, rulemaking, oversight of private sector standard-setting efforts, and regulation of auditors. Mr. Taub represented the SEC before accounting standard-setters, the US Congress, the and many other bodies. He also chaired the accounting committee of the International Organization of Securities Commissions (IOSCO).

Mr. Taub also spent 3 years in Arthur Andersen's Professional Standards Group, consulting with clients and developing interpretive guidance for Andersen on a wide variety of accounting and reporting issues. He spent the first seven years of his career in the audit practice in the firm’s Detroit office serving publicly held and privately owned companies in a variety of industries.

Mr. Taub writes a periodic column for Compliance Week on financial reporting developments. He was the primary author of several SEC reports and publications, including several reports to Congress. He is also co-author of the Miller Revenue Recognition Guide, a 600-page comprehensive guide to accounting for revenue recognition published by CCH.

Mr. Taub attended the University of Michigan in Ann Arbor, where he received an undergraduate degree in economics in 1990, and won the William A. Paton Award for his performance on the CPA exam.
 

Presentation Summary

The U.S. and International Accounting

There is constant discussion in the US accounting community about international convergence of accounting standards and possibly moving to International Financial Reporting Standards. Many people are strongly in favor of further developments along these lines, while others are just as strongly opposed. Scott Taub, who helped evaluate IFRS and develop the SEC's strategy on international accounting standards, will provide insight into where the debate stands, how it got to this point, and where things might be headed.