(EDWARDSVILLE, Ill.) Guest speaker Arthur Lindo, associate director and chief accountant of Banking Supervision and Regulation for the Federal Reserve Board in Washington, D.C., spoke recently at Southern Illinois University Edwardsville about Loan Losses & Illiquid Markets: Implications for Lending & Economic Recovery. During a breakfast, sponsored by the SIUE School of Business in SIUE's Meridian Ballroom, Lindo addressed a crowd of nearly 200 students, faculty and representatives of regional companies.
While discussing the challenges in developing regulatory policies that meet public policy initiatives and also comply with good accounting practices, Lindo pointed out that accountants and bankers should be able to "construct and de-construct" asset portfolios in ways that allow regulators and shareholders a clearer picture of the true value of assets. Lindo also asserted accounting needs to become more "forward-looking." As a profession, accounting has tended to look back at what happened to tell part of a story, he said. In order for regulation to be effective, Lindo pointed out, regulators need information from financial institutions that will enable them to better anticipate future practices that could lead to crises.
"The SIUE School of Business is pleased to be able to provide education to business professionals and students with programs such as Mr. Lindo's," said Dean Gary Giamartino. "We also appreciated Mr. Lindo spending the remainder of the day with our faculty and accounting students, delving more deeply into accounting regulatory issues."
The SIUE School of Business is among an elite 5 percent of business schools worldwide that have earned prestigious accreditation from the Association to Advance Collegiate Schools of Business International (AACSB-I). The accounting program at SIUE also has AACSB-I accreditation, among only 11 percent of business schools in the United States and Canada to hold that distinction.