Harvey Pitt, former chairman of the Securities & Exchange Commission, is setting up a consulting business to help companies meet the requirement of the Sarbanes-Oxley Act, ushered in during his time in charge of the regulator.
Link: Special report on the resignation of Pitt
Pitt, who stepped down in November last year after a scandal involving the new audit watchdog, has formed Kalorama Partners which will specialise in corporate-governance and crisis-management issues.
It will provide regulatory advice to corporate board members and audit committees of companies based in the US and abroad, as a result of new obligations under the Sarbanes-Oxley Act, which Pitt was instrumental in bringing into being.
According to the Washington Post Kalorama is looking to recruit a team of accountants and former government officials.
Pitt was forced to step down from the SEC after it was discovered that William Webster, his choice to head up the Public Company Accounting Oversight Board, had headed up the audit committee of US Technologies, a company under investigation by the SEC.
Webster resigned soon after Pitt stepped down.
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