An hour ago, the SEC announced that James Kroeker, Chief Accoiuntant of the SEC, is stepping down. Here is the complete text of the announcement.
06/20/2012 03:43 PM EDT
FOR IMMEDIATE RELEASE
Washington, D.C., June 20, 2012 — The Securities and Exchange Commission today announced that Chief Accountant James L. Kroeker will leave the SEC in July to enter the private sector.
Mr. Kroeker came to the SEC in 2007 as Deputy Chief Accountant and has been the agency’s Chief Accountant since January 2009. In that role, he has guided the operations of the SEC’s Office of the Chief Accountant and counseled the Commission on a wide range of accounting and auditing issues.
“Jim has provided superb counsel on a range of accounting and auditing related matters and has always stressed the importance of accounting to our investor protection mission,” said Chairman Mary L. Schapiro.
Mr. Kroeker said, “It has been a unique privilege to be a member of the Commission’s staff during this truly unprecedented time and to have had the opportunity to work alongside the talented and dedicated individuals in the SEC’s Office of the Chief Accountant and across the Commission.”
At the SEC, Mr. Kroeker served as staff director of the agency’s study of fair value accounting standards, which was mandated by Congress in 2008, and led the efforts of the Office of the Chief Accountant to improve off-balance sheet accounting standards. He also guided the Commission’s efforts as it continues to consider convergence of U.S. and international accounting standards.
Before joining the SEC staff, Mr. Kroeker was partner at Deloitte & Touche LLP, most recently serving in the firm’s National Office Accounting Services Group. From 1999 to 2001, Mr. Kroeker served as a Practice Fellow at the Financial Accounting Standards Board.
Debit and credit – – David Albrecht