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Paul Beswick named SEC Chief Accountant

  • SEC (US Securities and Exchange Commission) Image

Dec 22, 2012

Paul A. Beswick, the acting chief accountant at the SEC, has been named to the position permanently. Mr. Beswick, who was formerly a deputy chief accountant at the SEC, had been serving as acting chief accountant since James L. Kroeker left the SEC in July.

Mr. Beswick served as staff director of the multi-year effort to help the SEC evaluate the implications of incorporating IFRSs into the financial reporting system for U.S. companies. The SEC final staff report Work Plan for the Consideration of Incorporating IFRSs into the Financial Reporting System for U.S. Issuers was published on July 13, 2012.

Apart from general comments regarding the importance of the SEC's decision on IFRSs, Mr. Beswick gave little away over the last months in terms of the next steps the SEC might take. In his speech at the 2012 AICPA Conference on Current SEC and PCAOB Developments, he merely expressed an expectation of working with the new SEC chair, Elisse B. Walter, and the existing SEC commissioners, commenting that people should "please stay tuned."

Click for SEC press release (link to the SEC's Web site).

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