Gensler Ousts PCAOB Chair; Other Board Members to Follow

Truman Slate

In a statement that hit the Securities and Exchange Commission website at 4:14 p.m. on Friday, SEC Chair Gary Gensler said he removed William D. Duhnke III, chair of the Public Company Accounting Oversight Board, effective immediately.

Duhnke III’s term was not officially up until October 24, 2022.

Gensler designated Duane M. DesParte, who has been on the PCAOB since 2017, as acting chair.

“The PCAOB has an opportunity to live up to Congress’s vision in the Sarbanes-Oxley Act,” said Gensler. “I look forward to working with my fellow commissioners, Acting Chair DesParte, and the staff of the PCAOB to set it on a path to better protect investors by ensuring that public company audits are informative, accurate, and independent.”

The SEC also announced that it intends to seek candidates to fill all five Board positions on the PCAOB.

That means DesParte and Board members Rebekah Goshorn Jurata and Megan

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