New SEC Chairman Confirmed.

By unanimous vote, Harvey Pitt was confirmed by the Senate in Aug. as the new chairman of the Securities and Exchange Commission. Pitt pledged a review of SEC rules, and endorsed the current private sector financial reporting standards-setting process and the Financial Accounting Standards Board's role in that process at his confirmation heating.

AICPA President & CEO Barry Melancon applauded President Bush's selection. "We have every confidence in Pitt's ability to lead the SEC at a critical time in its history, and are very confident we can create an open and progressive dialogue...