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July 16, 2012

SEC names acting chief accountant

The US Securities and Exchange Commission (SEC) has appointed Paul Beswick as chief accountant, succeeding James Kroeker.

Kroeker left the SEC last week as the final staff report on the work plan towards global accounting standards was issued.

The long awaited report did not give any opinion on whether or not IFRS should be adopted in the US and only examined arguments for and against different forms of adoption, which indicates further delays in the SEC’s decision making towards the adoption of IFRS.

Kroker said he is leaving the SEC to pursue a career in the private sector.

Beswick joined the SEC in 2007 and has worked as the deputy chief accountant responsible for the day-to-day operations of the office’s accounting group.

Prior to joining the SEC Beswick was a partner with Ernst & Young US working in the firm’s professional practice and risk management group.

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