SEC Appoints New Members to PCAOB
The Public Company Accounting Oversight Board (“PCAOB”) will soon receive five new members. Announced by the Securities and Exchange Commission (“SEC”) on December 12, the new members are as follows:
- Robert Brown: A law professor at the University of Denver, Brown previously served on the PCAOB’s Standing Advisory Group and the SEC’s Investor Advisory Committee.
- William Duhnke: The staff director and general counsel to the Senate Committee on Rules and Administration, Duhnke was a Republican staffer in the Senate Banking Committee.
- Kathleen Hamm: The Global Leader in Securities and Fintech Solutions at Promontory Financial Group, Hamm has prior experience with the SEC.
- James Kaiser: A partner and the Global Assurance Methodology & Transformation Leader at a Big Four accounting firm.
- Duane DesParte: A retiring senior vice president and corporate controller of Exelon Corp., DesParte worked as an audit partner at a Big Four firm.
SEC Chairman Jay Clayton expects the transition to the new board to start in January.
The SEC also announced that Duhnke would replace outgoing PCAOB Chairman James Doty, whose term expired in October.