PwC man named SEC chief accountant
The US Securities & Exchange Commission has finally filled a crucial post, with the appointment of Donald Nicolaisen as its chief accountant.
Nicolaisen replaces Robert Herdman, who resigned in November following the William Webster fiasco, and said he would demand that ‘people act with integrity and ethics’.
‘As a regulator, I will ensure that investor interests are put above the interests of all others’.
Besides being the main driver behind auditing matters, he will also liase with the accounting watchdog, the Public Company Accounting Oversight Board.
His appointment comes just a day after one his colleagues, Richard Scalzo, a PricewaterhouseCoopers’ partner was banned for life from acting as an auditor of a public company. Scalzo previously headed up the audit at scandal-hit conglomerate Tyco.