PCAOB Appoints New Director of Enforcement and Investigations

Patrick Bryan has been named the Public Company Accounting Oversight Board’s director of the division of enforcement and investigations, and Kenneth Lench has been named the board’s general counsel.

“The Board is committed to prioritizing enforcement and investigative efforts to address issues that pose the greatest risk to investors and are most likely to deter improper conduct,” said PCAOB Chairman William Duhnke. “We are fortunate to have Patrick join the PCAOB and look forward to leveraging his significant experience to enhance the board’s oversight activities to improve audit quality.”

Bryan currently serves as the assistant general counsel for enforcement at the board of governors of the Federal Reserve System. Prior to joining the Federal Reserve, he served as a supervisory assistant chief litigation counsel in the division of enforcement at the U.S. Securities and Exchange Commission. He also spent more than 10 years in private practice on complex commercial disputes including in the area of financial fraud.

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“I am honored to lead the PCAOB’s division of enforcement and investigations,” said Bryan. “Enforcement is crucial to the organization’s mission, and I appreciate the opportunity to work with the board to enforce accountability of PCAOB standards and rules and related federal securities laws.”

Mark Adler, PCAOB’s current acting director and chief trial counsel, will resume his role as deputy director and chief trial counsel upon Bryan’s arrival in January 2020.

Lench will join the board in February 2020. He is currently a partner at Kirkland & Ellis where he focuses on securities law. Prior to joining Kirkland in 2013, Lench worked for more than 23 years in several positions at the U.S. Securities and Exchange Commission. In his last role at the SEC, he served as chief of the structured and new products unit of the division of enforcement.

“It is an honor to join the PCAOB and lead the office of the general counsel,” said Lench. “The PCAOB plays an important role in advancing audit quality, and I look forward to working with the board and dedicated staff to execute the organization’s statutory mandate.”