Washington, D.C., Jan. 6, 2009 (LAWFUEL)– Securities and Exchange Commission Chairman Christopher Cox today announced the appointment of James L. Kroeker as the Acting Chief Accountant in the SEC’s Office of Chief Accountant. In this capacity, Mr. Kroeker will oversee accounting interpretations, international accounting matters, and professional practice issues. Mr. Kroeker replaces Conrad W. Hewitt, who retired from government service on Monday.
Since joining the Commission as Deputy Chief Accountant in February 2007, Mr. Kroeker has played a key role in efforts to improve financial reporting and reduce the complexity of financial disclosure. For example, he recently served as staff director of the SEC’s Congressionally-mandated study of fair value accounting standards, and he has led the efforts of the Office of the Chief Accountant to address the current economic turmoil, including steps to improve off-balance sheet accounting guidelines. Mr. Kroeker also served as the Designated Federal Officer responsible for the staff oversight of the SEC’s Advisory Committee on Improvements to Financial Reporting. He also has been responsible for the day-to-day operations of the office’s accounting group, including resolution of accounting practice issues, rulemaking, and oversight of private sector standard-setting efforts.
“Jim Kroeker has consistently set high standards for achievement and excellence within the Office of the Chief Accountant,” said Chairman Cox. “His leadership, expertise, and judgment have been extraordinarily valuable assets for investors, our capital markets, and the agency.”
Mr. Hewitt said, “I have worked closely with Jim on many challenging matters and he has provided investors a valuable service on several issues. Jim is well-respected by many different parties and I am confident that he will continue to perform in an outstanding manner for the Commission.”
Mr. Kroeker came to the SEC from Deloitte and Touche LLP where he had been a partner in the firm’s National Office Accounting Services Group and was responsible for providing consultation and support regarding the implementation, application, communication and development of accounting standards, including disclosure and reporting matters. Mr. Kroeker also served as a Practice Fellow at the Financial Accounting Standards Board, where he assisted in the development of accounting guidance related to evolving accounting issues.
Prior to joining Deloitte’s national office, Mr. Kroeker was responsible for the audits of financial statements of several large national and multinational public companies and consulted with clients on technical accounting issues, coordinated the firm’s work related to clients’ mergers and acquisitions, and conducted special projects for the firm.
Mr. Kroeker, 39, received a Bachelor of Science degree with an emphasis in accounting from the University of Nebraska in May 1992.