SEC Appoints GAO’s Jeanette Franzel to PCAOB
The Securities and Exchange Commission has named Jeanette M. Franzel, a managing director of the Government Accountability Office, as a member of the Public Company Accounting Oversight Board.
She will be replacing Daniel L. Goelzer, one of the founding members of the PCAOB, who has served two consecutive five-year terms with the PCAOB since the board was founded in 2002.
The Sarbanes-Oxley Act of 2002 created the PCAOB to provide independent oversight of audits of public companies and broker-dealers. The board is responsible for setting audit standards and for registering, inspecting, and disciplining public accounting firms. The SEC oversees the PCAOB and appoints its members.
Franzel currently leads all aspects of the GAO’s financial audit oversight of the federal government. She heads a team of approximately 250 staff that focuses on financial and performance audits, proper use of federal funds, internal control, financial systems, and federal audit and financial management policy. She is a CPA, Certified Internal Auditor, Certified Management Accountant, and Certified Government Financial Manager.
“Jeanette’s commitment to the public trust and America’s investors is demonstrated by her life-long public service and her constant dedication to increasing accountability, audit quality and audit standards,” said SEC chair Mary L. Schapiro in a statement. “She has extensive hands-on experience leading financial audits and deep expertise in audit quality control, which will serve the PCAOB well as it continues to execute a rigorous standard-setting, inspections, and enforcement agenda.”
“We look forward to working with Jeanette on the PCAOB’s important statutory mission of overseeing the auditors of public companies and SEC-registered broker-dealers,” said SEC chief accountant James L. Kroeker. “Her qualifications as a nationally and internationally recognized expert in auditing standards will benefit the PCAOB as it works to protect the interests of investors and strengthen audit quality.” READ MORE...
| Posted by Michael Cohn, Accounting Today on Feb 3, 2012 | ||
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