Paul A. Beswick Named Acting Chief Accountant

Securities and Exchange Commission Chairman Mary Schapiro today announced the appointment of Paul A. Beswick as the Acting Chief Accountant in the SEC's Office of the Chief Accountant. In his new role, Mr. Beswick will oversee accounting interpretations, international accounting matters, and professional practice issues. Mr. Beswick replaces James L. Kroeker, who left the SEC last Friday.

Since joining the SEC in September 2007, Mr. Beswick has fulfilled a number of key roles in the Office of the Chief Accountant. Most recently, as Deputy Chief Accountant, he was 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.

Mr. Beswick also served as staff director of a multi-year effort to help the Commission evaluate the implications of incorporating International Financial Reporting Standards (IFRS) into the financial reporting system for U.S. companies. The effort was begun in February 2010 and a final staff report was published last Friday.

"I am delighted to welcome Paul as our Acting Chief Accountant," said SEC Chairman Mary L. Schapiro. "Paul's experience at the Office of the Chief Accountant and his knowledge of the profession will help him to lead the office and continue to counsel the Commission on critical accounting questions."

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 from July 2005 to June 2007.

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