SEC Appoints PCAOB Chief Auditor Megan Zietsman to PCAOB Board
FOR IMMEDIATE RELEASE
Washington D.C., Oct. 15, 2020 —
The Securities and Exchange Commission today announced the appointment of Megan Zietsman as a Board member of the Public Company Accounting Oversight Board (PCAOB) for a term ending in October 2025. Ms. Zietsman has been the Chief Auditor and Director of Professional Standards of the PCAOB since February 2019.
The Sarbanes-Oxley Act of 2002, as amended, established the PCAOB to oversee the audits of public companies and broker-dealers in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports. The PCAOB accomplishes these goals through registering public accounting firms, setting auditing standards, conducting inspections, and pursuing disciplinary actions. The SEC oversees the PCAOB and appoints its members.
"Megan Zietsman brings significant leadership experience and deep expertise in domestic and international auditing and standard setting," said SEC Chairman Jay Clayton. "Megan's expertise in combination with the other members will yield significant benefits to the Board in its efforts to promote audit quality and advance its strategic agenda."
SEC Chief Accountant Sagar Teotia added, "We look forward to working with Megan Zietsman to further the critical work of the PCAOB. In her role as the Chief Auditor and Director of Professional Standards of the PCAOB, she made significant contributions to audit quality. 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."
Megan Zietsman said, "The PCAOB plays such an essential role in our global capital markets. It is an honor and privilege for me to serve on the board of this very important organization. I am excited to help the PCAOB continue to advance its strategic plan and continue its active engagement with stakeholders. I look forward to working with my fellow board members to continue the PCAOB's goals of protecting the interest of investors and enhancing audit quality."
Ms. Zietsman has 31 years of experience in the auditing profession. Prior to joining the PCAOB, she was a Partner in Deloitte & Touche LLP's professional practice network in the U.S. Ms. Zietsman also served on the International Auditing and Assurance Standards Board from 2014 to 2019, most recently as the Deputy Chair. She also served on the American Institute of Certified Public Accountants' Auditing Standards Board from 2007 to 2011. Ms. Zietsman is a Certified Public Accountant and holds a Bachelor of Commerce Degree in Accounting with honors from Rhodes University in South Africa.