SEC Names Schnurr As Chief Accountant

The SEC announced it has named James Schnurr as its chief accountant. Schnurr will begin his new post in October, replacing Paul Beswick, who joined the SEC staff in September 2007 and has served as its chief accountant since 2012.

The SEC’s Office of the Chief Accountant is responsible for establishing and enforcing accounting and auditing policy as well as improving the professional performance of public company auditors. The office works to enhance the transparency and relevancy of financial reporting and ensure that financial statements are presented fairly and have credibility.

“Jim’s broad expertise in accounting, reporting and risk management will help foster investor confidence by holding companies accountable for their financial reporting requirements,” says SEC chair Mary Jo White. “His deep knowledge of accounting and auditing standards coupled with his extensive experience interacting with regulators and accounting and auditing standard setters will be invaluable to the commission.”

Schnurr says, “I look forward to working with the commissioners and the commission’s talented staff to ensure that companies are providing accurate and complete financial information and that auditors are upholding the public trust in providing assurance to investors about that information.”

Schnurr recently retired from Deloitte LLP, where he was vice chairman and senior professional practice director and specialized in financial and SEC reporting for public companies. He also has served on various working and advisory groups of FASB, PCAOB and AICPA.