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Fed Governor Gets Nod at PCAOB

Fed Governor Gets Nod at PCAOB

by Rick Turoczy on June 20, 2006

Federal Reserve Board Governor Mark W. Olson has been appointed the new chairman of the five-member Public Company Accounting Oversight Board for a term running until 2010.

It took the SEC nearly nine months to find a successor to William McDonough, the board’s first steady chairman, who announced he would be leaving the position in September. Olson steps in at a politically perilous time for the board — many business interests are forcefully lobbying for a repeal of Sarbanes-Oxley’s internal controls provisions for smaller public companies, and a lawsuit has been filed questioning the PCAOB’s own constitutionality.

Fed Governor Gets Nod at PCAOB

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