Big Four Chief Accountant to Head U.S. Accounting Board (1)

Richard Jones, chief accountant and partner at Ernst & Young LLP, will serve as the new chairman of the body that sets U.S. accounting rules.

A Big Four firm staff member since he graduated from college in 1987, Jones will succeed Financial Accounting Standards Board Chairman Russell Golden, who is to step down at the end of June. Golden, a former Deloitte LLP partner, has been chairman since July 2013.

Jones joins FASB at an interesting time. The board has published all of its major, international convergence-era standards and now is watching as U.S. companies ...