Securities and Exchange Commission has appointed James L. Kroeker as the Chief Accountant in the SEC’s Office of Chief Accountant.
In this capacity, Kroeker will oversee accounting interpretations, professional practice issues, and international accounting matters. Kroeker replaces Conrad W. Hewitt, who retired from government service in January 2009.
Kroeker has served as Acting Chief Accountant since January 2009 and guided the day-to-day operations of the SEC’s Office of the Chief Accountant during the recent economic crisis. He served as staff director of the SEC’s Congressionally-mandated study of fair value accounting standards, and has led the efforts of the Office of the Chief Accountant to address the current economic turmoil, including steps to improve off-balance sheet accounting standards.
“I’m pleased that Jim has agreed to serve in this critical role as we continue our efforts to improve our financial reporting system,” says Mary Schapiro, chairman. “Investors will benefit from Jim’s sound judgment and dedication to making financial information more transparent and understandable. He will play an instrumental role as we consider various ways to improve financial reporting to investors.”
“The financial crisis has highlighted once again the importance of transparent and high-quality financial reporting to investors. I am honored by the opportunity to continue working with Chairman Schapiro, the other Commissioners and the outstanding staff of the Office of the Chief Accountant as we continue our efforts to protect the investing public,” says Kroeker.
L.D.