PCAOB, SEC name Acting Chairs; SEC departures.

• Author: Heffes, Ellen M.
• Position: Public company accounting oversight board - Securities and exchange commission - Brief Article

The SEC on November 14 designated Scott Taub to serve as Acting Chief Accountant. Taub had served as the commission's Deputy Chief Accountant since September 2002.

In a second announcement, on December 2, the SEC named Bill Gradison Acting Chairman of the Public Company Accounting Oversight Board (PCAOB). Gradison has been a board member for three years. In a press announcement, he noted that from his own experience in the financial services field, he knew of the importance of protecting investors by assuring that financial reporting is accurate and reliable.

Further, he believes "the need for the PCAOB has never been clearer than it is today. While progress is being made, there continue to be fresh disclosures of questionable accounting by public companies or problems with the audits of public companies--or both." He said he intends to build on the strong foundation already put in place by former Chairman William McDonough and by board members Dan Goelzer, Kayla Gillian and Charley Niemeier, "and by fully utilizing my other superb PCAOB...