FOR IMMEDIATE RELEASE                        2001-45

                              
     STEVEN HENNING APPOINTED ACADEMIC ACCOUNTING FELLOW
               OFFICE OF THE CHIEF ACCOUNTANT

     Washington, DC, May 10, 2001 --The Securities and
Exchange Commission's Office of the Chief Accountant
recently selected Professor Steven L. Henning as the
Academic Accounting Fellow for a one-year term beginning
August 2001. Currently, Professor Henning is an assistant
professor of accounting at Southern Methodist University and
holds the CPA certification.

Prior to joining the Southern Methodist University faculty
in 1997, Professor Henning was a faculty member at the
University of Colorado at Boulder.  Professor Henning holds
a Ph.D. in Business with a minor in Economics from the
University of Wisconsin-Madison, a B.B.A. in Accounting and
Finance from the University of Wisconsin-Milwaukee, and an
MBA from the University of Miami (Florida).

Professor Henning's research interests include various
issues concerning financial reporting and analysis, but most
consistently those matters involving measurement and
recognition issues, the usefulness and quality of financial
reports in specific contexts, and the economics of financial
disclosures.  His research findings have been published in
the Journal of Accounting Research, The Journal of the
American Taxation Association, Review of Quantitative
Finance and Accounting, and other academic journals and
business periodicals.

At the Commission, the Academic Accounting Fellow serves as
a research resource for the staff by interpreting and
communicating research materials as they relate to various
areas of interest to the SEC.  In addition, the Academic
Fellow has been assigned to ongoing projects in the Chief
Accountant's office, including rulemaking, liaison with the
professional accounting standards-setting bodies and
consultation with registrants on accounting and reporting
matters.  Professor Henning will replace the current
academic accounting fellow, Professor Andrew D. Bailey, Jr.,
who will return to the University of Illinois at Urbana-
Champaign



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