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Paul Beswick named SEC Chief Accountant

  • SEC (US Securities and Exchange Commission) (dark gray) Image

22 Dec 2012

Paul A Beswick, the Acting Chief Accountant at the US Securities and Exchange Commission (SEC), has been named to the position permanently. Mr Beswick, so far the SEC Deputy Chief Accountant, had been serving as Acting Chief Accountant since James L Kroeker left the Commission in July.

Mr Beswick served as staff director of the multi-year effort to help the Commission evaluate the implications of incorporating IFRSs into the financial reporting system for US 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 13 July 2012.

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

Please click for SEC press release (link to SEC website).

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