The Security and Exchange Commission’s deputy chief accountant, James Kroeker, has been named acting chief accountant by SEC chairman Christopher Cox. Kroeker replaces Conrad W. Hewitt, who retired from the position on Monday.
Kroeker, who has served in his current position since February 2007, will be responsible for oversight of accounting interpretations, international accounting matters and professional practice issues in his new position.
As deputy chief accountant Kroeker’s was deeply involved in the effort to improve financial reporting and ease the complexity of financial disclosure. He held the position of designated federal officer responsible for the staff oversight of the SEC’s Advisory Committee on Improvements to Financial Reporting.
However, in his more recent endeavors he led the effort to improve off-balance sheet accounting guidelines. He also led this October’s congressionally-mandated project that studied the effects of mark-to-market accounting on financial institutions’ balance sheets during the recent round of bank failures.
“Jim Kroeker has consistently set high standards for achievement and excellence within the Office of the Chief Accountant,” Cox said. “His leadership, expertise, and judgment have been extraordinarily valuable assets for investors, our capital markets, and the agency.”
Kroeker joined the Commission in 2007 from Deloitte and Touche LLP where he was a partner in the accounting company’s national office of accounting services group. He also served as a practice fellow at the Financial Accounting Standards Board.
In another move seen as filling a key slot until a decision on a permanent appointment can be made by President-elect Obama’s choice for SEC commissioner, Mary Schapiro, Cox on Monday named Shelley E. Parratt as acting director of the Division of Corporation Finance.