Washington, D.C., June 4, 2008 (Lawfuel) – Securities and Exchange Commission Chairman Christopher Cox today announced that Steven B. Harris has been appointed to the Public Company Accounting Oversight Board (PCAOB).
Mr. Harris, a former long-time Senate Banking Committee official who played a key role in the legislation that created the PCAOB, was unanimously selected by the Commission to fill a recent vacancy on the Board. He will assume his position on June 9.
The PCAOB, established by the Sarbanes-Oxley Act of 2002, oversees the audits of the financial statements of public companies through registration, standard-setting, inspection and disciplinary programs. Under the Act, the SEC selects the PCAOB chairman and board members after consultation with the Department of Treasury and the Federal Reserve Board.
“Steve Harris’s background as an expert in financial services regulation, together with his reputation as a thoughtful and knowledgeable champion of investors’ interests, make him an excellent choice for this important position,” said Chairman Cox. “His leadership of the Senate Banking Committee staff under former Chairman Paul Sarbanes, as well as his private sector experience, have well prepared him to serve as a PCAOB board member.”
Mr. Harris said, “I am greatly honored by the confidence shown in me by the Securities and Exchange Commission and I look forward to working with my colleagues at the PCAOB to protect the interest of investors in U.S. markets.”
Mr. Harris is currently Senior Vice President and Special Counsel for APCO Worldwide, where he advises clients on matters relating to financial transactions, corporate governance, crisis management, investigations, foreign investment, trade promotion, and government affairs.
Previously, Mr. Harris served as a Staff Director and Chief Counsel of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, a position he held for more than 15 years. He also served as a Staff Director and Chief Counsel to the Securities Subcommittee. He worked on all of the legislation, investigations, and oversight conducted by the Committee from 1981 to 2007.
Mr. Harris was Counsel to Senator Donald W. Riegle, Jr. from 1979-1981. He served as Counsel to Congresswoman Barbara Jordan and as a representative to the National Commission for the Review of Antitrust Laws and Procedures from 1978 to 1979. He graduated with honors from Dartmouth College and earned an LL.B. from George Washington University.