The PCAOB announced today that Thomas Ray, PCAOB chief auditor and director of professional standards, will leave the PCAOB March 6 to return to the private sector. Deputy Director Jennifer Rand will serve as acting chief auditor until a permanent appointment is made.

Ray was one of the PCAOB’s first professional staff, having joined the Board as deputy chief auditor in June 2003, soon after the PCAOB commenced operations. He played a key role in establishing the Office of the Chief Auditor. In February 2006, Ray was appointed chief auditor.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...