Washington, D.C., Aug. 25, 2009 — Securities and Exchange Commission Chairman Mary Schapiro today announced the appointment of James L. Kroeker as the Chief Accountant in the SEC's Office of Chief Accountant. In this capacity, Mr. Kroeker will oversee accounting interpretations, professional practice issues, and international accounting matters. Mr. Kroeker replaces Conrad W. Hewitt, who retired from government service in January 2009.
Mr. Kroeker has served as Acting Chief Accountant since January 2009 and guided the day-to-day operations of the SEC's Office of the Chief Accountant during the recent economic crisis. He served as staff director of the SEC's Congressionally-mandated study of fair value accounting standards, and has led the efforts of the Office of the Chief Accountant to address the current economic turmoil, including steps to improve off-balance sheet accounting standards.
"I'm pleased that Jim has agreed to serve in this critical role as we continue our efforts to improve our financial reporting system," said Chairman Schapiro. "Investors will benefit from Jim's sound judgment and dedication to making financial information more transparent and understandable. He will play an instrumental role as we consider various ways to improve financial reporting to investors."
Mr. Kroeker said, "The financial crisis has highlighted once again the importance of transparent and high-quality financial reporting to investors. I am honored by the opportunity to continue working with Chairman Schapiro, the other Commissioners and the outstanding staff of the Office of the Chief Accountant as we continue our efforts to protect the investing public."
Mr. Kroeker joined the SEC as Deputy Chief Accountant in February 2007 from Deloitte and Touche LLP, where he had been a partner in the firm's National Office Accounting Services Group. At Deloitte, he was responsible for providing consultation and support regarding the implementation, application, communication and development of accounting standards, including disclosure and reporting matters.
Mr. Kroeker also served as a Practice Fellow at the Financial Accounting Standards Board, where he assisted in the development of accounting guidance related to evolving accounting issues.
Prior to joining Deloitte's national office, Mr. Kroeker was responsible for the audits of financial statements of several large national and multinational public companies and consulted with clients on technical accounting issues, coordinated the firm's work related to clients' mergers and acquisitions, and conducted special projects for the firm.
Mr. Kroeker received a Bachelor of Science degree with an emphasis in accounting from the University of Nebraska.