Key regulator leaves US watchdog

One of the most senior financial regulators in the US has announced he is to
leave the Securities and Exchange Commission.

Conrad Hewitt, the SEC’s chief accountant, was one of the architects of
permitting non-US companies to submitt accounts using international accounting
standards with reconciling to US GAAP. It was one of the landmarks on the
continuing journey to full adoption of IFRS by Washington law makers.

Hewitt also spearheaded much of the work helping write guidance for users of
the SEC’s notorious 404 requirements, brought in after the collapse of Enron.

‘As Chief Accountant, Conrad Hewitt has dedicated his broad experience as a
leader in the accounting profession, a banking regulator, and an outside
director of several public companies to solving the problems that challenge
today’s markets,’ said SEC Chairman Christopher Cox.

Hewitt was at the SEC for two and a half years.

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