Ernst & Young partner joins SEC
A former Ernst & Young partner has joined US regulatory body the Securities and Exchange Commission as the body's deputy chief accountant.
Jackson Day worked in E&Y’s New York office from 1986 where he worked on issues relating to financial instruments and revenue recognition, according to Electronic Accountant.
Day’s decision to move to the SEC comes at a time when the US regulator is examining the issue of auditor independence. Although E&Y has so far offered less resistance to the SEC proposals than its Big Five rivals, earlier this month chairman Phil Laskawy did speak out against the moves.
The remarks came as a surprise to the profession as he had previously supported the SEC’s initiatives on auditor independence rule changes.
The issue of auditor independence will be discussed at two SEC hearings later in September.