CAQ Comments on the SEC’s Office of the Chief Accountant

Washington, D.C. – The Center for Audit Quality (CAQ) issued the following statement from Executive Director Cindy Fornelli reacting to the departure of James Kroeker as Chief Accountant and the appointment of Paul Beswick as Acting Chief Accountant of the Securities and Exchange Commission (SEC):

“The CAQ applauds Jim Kroeker for his service as SEC Chief Accountant. He provided steady and thoughtful leadership on accounting and auditing issues during his tenure.

We wish Jim the best as he moves into the next phase of his career.

We also congratulate Paul Beswick on his appointment as Acting Chief Accountant. While he has ‘big shoes’ to fill, Paul’s leadership on the IFRS Staff Work Plan and contributions to critical accounting and auditing issues are strong indications that he will serve the Commission well.

We look forward to working with Paul in his capacity of Acting Chief Accountant.”

The Center for Audit Quality (CAQ) is an autonomous public policy organization dedicated to enhancing investor confidence and public trust in the global capital markets. The CAQ fosters high quality performance by public company auditors, convenes and collaborates with other stakeholders to advance the discussion of critical issues requiring action and intervention, and advocates policies and standards that promote public company auditors’ objectivity, effectiveness and responsiveness to dynamic market conditions. Based in Washington, D.C., the CAQ is affiliated with the American Institute of Certified Public Accountants. For more information, visit www.thecaq.org