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U.S. Securities and Exchange Commission

Paul Beswick Named SEC Deputy Chief Accountant in Charge of Accounting Group

FOR IMMEDIATE RELEASE
2009-244

Washington, D.C., Nov. 13, 2009 — The Securities and Exchange Commission today announced that Paul A. Beswick has been named the Deputy Chief Accountant overseeing the Accounting group within the agency's Office of the Chief Accountant.

Mr. Beswick fills the position vacated by Jim Kroeker, who was recently named SEC Chief Accountant.

In his new role, Mr. Beswick will be responsible for resolution of accounting issues, rulemaking projects, and oversight of private sector accounting standard-setting efforts. Mr. Beswick has been serving as Deputy Chief Accountant for Professional Practice in the SEC's Office of the Chief Accountant since September 2008. He joined the SEC staff in October 2007 as a Senior Advisor to the Chief Accountant.

"I am pleased that Paul has agreed to transition to this important role," said Mr. Kroeker. "Paul's knowledge and expertise in financial reporting will be a valuable resource to our office, this agency, and investors. I am confident that he will continue to perform in an outstanding manner for the Commission."

The Office of the Chief Accountant is divided primarily into three major groups: Accounting, Professional Practice and International Affairs. These three groups work collaboratively to serve as the principal adviser to the Commission on accounting and auditing matters.

The Accounting group works closely with private-sector accounting bodies such as the Financial Accounting Standards Board. Registrants, auditors, and other divisions and offices within the SEC regularly consult with the group regarding the application of accounting standards and financial disclosure requirements.

Mr. Beswick will continue to support the Office of the Chief Accountant's work related to oversight of the Public Company Accounting Oversight Board (PCAOB) until a replacement is named for his prior position.

Prior to joining the SEC staff, Mr. Beswick was a Partner with Ernst & Young LLP, where he worked in the firm's Professional Practice and Risk Management Group. Mr. Beswick previously served as a practice fellow at the Financial Accounting Standards Board (FASB) from July 2005 to June 2007.

Mr. Beswick is a graduate of Miami University in Oxford, Ohio.

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http://www.sec.gov/news/press/2009/2009-244.htm

Modified: 11/13/2009