RegulationAccounting StandardsChairman finally appointed to PCAOB

Chairman finally appointed to PCAOB

Former E&Y partner to head up oversight body

Mark W. Olson, a former partner at Ernst & Young, has been named as the
chairman of the Public Company Accounting Oversight Board, the independent US
accounting regulator

The PCAOB has been without a permanent head since William McDonough resigned
late last year.

Olson, 63, is a Federal Reserve governor and has been with the central bank
since December 2001. He was also staff director of a Senate Banking
subcommittee.

Christopher Cox, SEC chairman, who appointed Olson to the position, said
Olson’s experience as a central banker, his background in securities law and his
expertise gained as partner in a major accounting firm would make him ‘an
exceptional addition’ to the PCAOB.

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