The Securities and Exchange Commission announced changes to the Public Company Accounting Oversight Board (PCAOB), including the appointment of Megan Zietsman as a board member for a term ending in October 2025.
The appointment corresponds with the announcement James Kaiser will retire from his post on the board after completing his term. Kaiser was eligible for reappointment but opted not to pursue; he will remain with the board past the expiration of his term on Oct. 24 until Zietsman is able to transition to her new role.
Zietsman has been chief auditor and director of professional standards at the PCAOB since February 2019. She has 31 years of experience in the auditing profession, previously working as a partner in Deloitte’s U.S. professional practice network.
“We look forward to working with Megan Zietsman to further the critical work of the PCAOB,” said SEC Chief Accountant Sagar Teotia in a press release. “Her deep knowledge of auditing and standard setting, as well as her broad experience in communicating with investors, auditors, preparers, and audit committees will help the PCAOB in improving audit quality.”
Kaiser had been appointed to the PCAOB board in December 2017 after a 38-year tenure at PwC. His efforts on the board centered on the use of technology to help shape the PCAOB’s strategic plan, technology, and transformation efforts.
“I would like to thank Jim Kaiser for his dedicated public service as a member of the PCAOB Board. Jim brought a very deep and invaluable level of audit expertise and experience to the Board and we were fortunate that he was willing to give so much time to public service after a distinguished professional career,” said SEC Chairman Jay Clayton in a press release. “My interactions with Jim were always positive. He moved the PCAOB forward and I will miss his expertise and professionalism.”
The SEC oversees the PCAOB and appoints its members.