Deloitte Alum Appointed to Top SEC Post

James L. Kroeker, an ex-partner at Deloitte and Touche LLP’s National Office Accounting Services Group, responsible for providing consultation and support regarding the implementation, application, communication and development of accounting standards, including disclosure and reporting matters was named Acting Chief Accountant by SEC Chairman Christopher Cox.

In this important role, Mr. Kroeker will oversee accounting interpretations, international accounting matters, and professional practice issues. The SEC has been under increasing scrutiny and pressure owing to its role in the US credit crunch and more recently in the Madoff Ponzi-scheme scandal. Congress is likely to extensively revamp the entire SEC structure, role and responsibilities to bring uniformity and congruence of regulation across the financial system.

In such a situation, the role of Chief Accountant of the SEC assumes significance owing to the critical nature of interpretation of accounting standards and professional practice conformance, and it is fitting that Big Four alum has been entrusted with this high responsibility in such troubling times.