SEC ousts head of accounting watchdog
Reprints
(Reuters) — The U.S. Securities and Exchange Commission on Friday said it has voted to remove the head of the accounting oversight board that sets standards for audits of public companies and left the rest of the members on notice.
The SEC voted to remove William D. Duhnke III from his role as chairman of the Public Company Accounting Oversight Board, effective Friday, the agency said in a statement. The other four members will stay on, but the SEC is soliciting resumes for those roles.
The move comes after pressure from some Democratic lawmakers, who have said the board has been falling down on the job to oversee audit firms meant to keep publicly traded companies in check.
Read Next
-
SEC considering new rules to tackle risky SPACs
(Reuters) — The U.S. Securities and Exchange Commission is considering new rules to address concerns around material disclosures and investor protections amid a surge in the use of special purpose acquisition companies as capital-raising vehicles, its new chair will tell lawmakers.
Related Stories
Most Read in Risk Management
-
3. Zurich North America names professional liability, cyber leader
-
6. Chubb readies $350 million payout tied to Baltimore bridge collapse
