PCAOB founding member retires

A FOUNDING MEMBER of the US accounting watchdog is to retire this month.

Daniel Goelzer was recruited by the Securities and Exchange Commission (SEC) and became a founding member of its accountancy regulation arm the Public Company Accounting Oversight Board (PCAOB).

Goelzer served as chairman of the PCAOB from August 2009 to January 2011 and has quite a biography.

As a certified public accountant early in his career he worked as an auditor for Deloitte & Touche before moving into law where he became a law clerk for judge Thomas Fairchild in the US Appeals Court. He joined the SEC in 1974 working in a variety of roles including executive assistant to the chairman and general council. He also became a partner to law firm Baker McKenzie in 1990.

In July this year it will be ten years since the Sarbanes Oxley Act came into force which was introduced to increase transparency and corporate governance in the wake of accounting scandals such as Enron.

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