[ by Howard Haykin ]

SEC Chairman Elisse Walter on Friday announced that Paul Beswick, who's been serving as the agency's Chief Accountant was permanently assigned that position.  He succeeds James Kroeker, who left the SEC in July 2012 to return to the private sector.

The SEC's Office of the Chief Accountant is responsible for:

• establishing and enforcing accounting and auditing policy to enhance the transparency and relevancy of financial reporting,
• improving the professional performance of public company auditors in order to ensure that financial statements used for investment decisions are presented fairly and have credibility.

Since joining the SEC staff in September 2007, Mr. Beswick has held several positions in the Office of the Chief Accountant. As Deputy Chief Accountant he was responsible for the day-to-day operations of the office's accounting group, including resolution of accounting practice issues, rulemaking, and oversight of private sector standard-setting efforts.  As staff director of a multi-year project, he helped in evaluating the implications of incorporating International Financial Reporting Standards (IFRS) into the financial reporting system for U.S. companies. The effort began in February 2010 and concluded when a final staff report was published earlier this year.

Prior to joining the SEC, ... Mr. Beswick served as:

• a Partner with Ernst & Young LLP, where he worked in the firm's Professional Practice and Risk Management Group
• a Practice Fellow at the Financial Accounting Standards Board (FASB), where he assisted in the development of accounting guidance related to evolving accounting issues.

Mr. Beswick is a graduate of Miami University in Ohio.

For further details, go to:   [ SEC PR 12-275, 12/21/12 ].