President Barack Obama appointed former U.S. Attorney Mary Jo White as SEC chairman. At press time, her approval was still pending before the Senate. SEC Commissioner Elisse Walter had served as interim chairman since Chairman Mary Schapiro resigned in December. Walter will continue on the commission.

Paul Beswick, who had been serving as the SEC’s acting chief accountant since James Kroeker’s departure for the private sector in July, will retain the post, the commission also announced.

Beswick has been a member of the SEC staff since September 2007 and was deputy chief accountant before Kroeker’s departure. Beswick served as staff director of an SEC effort to evaluate the idea of incorporating IFRS into the financial reporting system for U.S. public companies.

That effort resulted in a document released in July that explained the benefits and challenges associated with IFRS but did not make a recommendation. Beswick will lead the SEC’s Office of the Chief Accountant.

The SEC has seen numerous other changes in key positions recently. Division of Corporation Finance Director Meredith Cross, General Counsel Mark Cahn, Trading and Markets Director Robert Cook, and Chief of Staff Didem Nisanci all announced in December that they are leaving the commission. Geoffrey Aronow was named general counsel, and acting directors were named for the divisions of Corporation Finance (Lona Nallengara) and Trading and Markets (John Ramsay).

The SEC announced in January that Enforcement Director Robert Khuzami is leaving the commission.

  Charles Cox, John Dugan, and Teri List- Stoll have been appointed to the FAF board of trustees, the foundation announced.

Their five-year terms began Jan. 1. The three new trustees replace Frank Brod, Edward Harrington, and John Perrell, whose terms ended Dec. 31.

Cox has served as director of finance for the city of Farmers Branch, Texas, since 1993. Dugan, who previously served as U.S. comptroller of the currency, is a partner at the law firm of Covington & Burling LLP. List-Stoll is senior vice president and treasurer of Procter & Gamble.


News quiz: College debt, stolen identities, and retirement planning

See how much you know about these developments and others in the Journal of Accountancy news quiz.


Preventing and detecting fraud at not-for-profits

Organizations in all industries must deal with the potential for fraud to occur, and design controls to prevent and detect it. Environment, policies, and controls can help organizations steer clear of problems.


The dangers of dabbling

To meet evolving marketplace needs, CPAs often look to diversify their service offerings. Firms can mitigate the risk of experiencing competency-related professional liability claims by implementing these basic steps.