The Securities and Exchange Commission recently announced the departure of Chief Accountant James L. Kroeker. Kroeker is entering the private sector in July.
Kroeker started with the SEC in 2007 as Deputy Chief Accountant before moving in the role of Chief Accountant in January 2009. As Chief Accountant, Kroeker has been responsible for leading operations for the office and providing accounting and auditing counsel to the Commission.
"Jim has provided superb counsel on a range of accounting and auditing related matters and has always stressed the importance of accounting to our investor protection mission," said Chairman Mary L. Schapiro.
During his time at the SEC, Kroeker was the staff director of the SEC's study of fair value accounting standards. He also led efforts to improve off-balance sheet accounting standards and efforts to join U.S. and international accounting standards.
"It has been a unique privilege to be a member of the Commission's staff during this truly unprecedented time and to have had the opportunity to work alongside the talented and dedicated individuals in the SEC's Office of the Chief Accountant and across the Commission," said Kroeker.
Kroeker was also partner at Deloitte & Touche LLP, serving in the National Office Accounting Services Group before joining the SEC. He was also a Practice Fellow at the Financial Accounting Standards Board.
"As SEC Chief Accountant, Jim Kroeker has served with outstanding judgment and his achievements have greatly benefited the nation's investors, issuers and our markets," Barry Melancon, CPA, CGMA, President and CEO of the American Institute of CPAs, said in a statement regarding the SEC's announcement. "Jim has approached his responsibilities with a strong commitment to the public interest and deep knowledge of the key issues of registrants and the profession. Jim has played a key role in efforts to improve financial reporting and reduce the complexity of financial disclosure. We wish him well."