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Tuesday, July 03, 2007

Goelzer Re-Elected to PCAOB Board

News summary by MFWire's editors

Daniel L. Goelzer has been reappointed to the Public Company Accounting Oversight Board. The SEC voted unanimously to re-elect Goelzer to a second five-year term. Goelzer was first appointed to the PCAOB in 2002.

Securities and Exchange Commission Chairman Christopher Cox announced today that founding Public Company Accounting Oversight Board member Daniel L. Goelzer has been reappointed to the Board. The Commission unanimously selected Mr. Goelzer to serve a second five-year term as a member of the PCAOB.

"I'm very pleased to join my fellow Commissioners in reappointing Dan Goelzer to serve as a PCAOB board member," Chairman Cox said. "His experience and skills in both the law and accounting, including service as a founding Board member of the PCAOB, as General Counsel of the SEC, and as a Certified Public Accountant and auditor at Touche Ross, will continue to be an invaluable resource to the Board. He also brings broad perspective to the Board through his substantial experience as a regulator and practitioner. We are fortunate that he is willing to serve the nation, investors, and our markets in this capacity."

The PCAOB, established by the Sarbanes-Oxley Act of 2002, oversees the audits of the financial statements of public companies through registration, standard setting, inspection and disciplinary programs. Under the Act, the Commission selects members and the Chair of the Board after consultation with the Department of Treasury and the Federal Reserve Board.

Biographical Notes:

Mr. Goelzer was first appointed to the PCAOB in 2002. Prior to joining the PCAOB, he served as General Counsel of the SEC for more than seven years, making him the longest-serving General Counsel in the history of the agency.

During his tenure as General Counsel, Mr. Goelzer represented the SEC and the interests of investors through the performance of duties in the areas of appellate litigation, rulemaking, and regulation of the securities markets. He has testified before Congress on these issues and assisted in drafting legislation. As both a lawyer and a Certified Public Accountant, he was a constant source of advice and counsel on legal, regulatory, and Congressional issues pending before the Commission. After leaving the Commission, Mr. Goelzer was in the private practice of law, focusing on securities law and financial institution regulation. He is the author of several articles on matters related to corporate governance and the securities laws. Early in his career, he was a member of the audit staff of Touche Ross & Co. 

Edited by: Erin Kello

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