PCAOB Chairman resigns; acting SEC Chief Accountant named

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13 Nov 2002

William H.

Webster has resigned as chairman of the US Public Company Accounting Oversight Board (PCAOB). The PCAOB was created by accounting reform legislation enacted in the United States in July to oversee the audits of public companies. Also, Jackson M. Day has been named Acting Chief Accountant of the SEC, replacing Robert K. Herdman, who had resigned last week. The resignations of Mr. Webster and Mr. Herdman, and that of SEC Chairman Harvey H. Pitt, relate to questions about the SEC's process for selecting members of the new five-member PCAOB.

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