SEC Appoints New Chairman and Board Members to Oversee Public Company Audits

USA: SEC Appoints New Chairman and Board Members to Oversee Public Company Audits

Demetrios (Jim) Logothetis was named chairman of the Public Company Accounting Oversight Board (PCAOB) on Jan. 30, 2026, with Mark Calabria, Kyle Hauptman and Steven Laughton joining as board members. The appointments were announced by the U.S. Securities and Exchange Commission as part of the agency’s ongoing oversight of audit quality for public companies and broker‑dealers.

Mandate of the PCAOB

The PCAOB, created under the Sarbanes‑Oxley Act of 2002, is tasked with registering accounting firms, setting auditing standards, conducting inspections, and pursuing disciplinary actions to protect investors and promote reliable audit reports. The board operates under SEC supervision.

Statements from SEC Officials

“I am confident that this new Board will usher in a new day at the PCAOB—one of sensible, efficient oversight of auditors,” SEC Chairman Paul S. Atkins said in a statement. “The newly appointed Chairman and Board members have already demonstrated a profound commitment to protecting investors and responsible use of such funds by accepting compensation much more in line with the ethos of public service.” SEC Chief Accountant Kurt Hohl added, “We look forward to working with the new Board in connection with furthering the PCAOB’s central mission of promoting investor protection.”

Backgrounds of Appointees

Logothetis, who will serve until Oct. 24, 2030, brings experience from Ernst & Young, where he spent four decades, and currently chairs the audit committee of The Republic Bank of Chicago. Mark Calabria, whose term ends Oct. 24, 2027, serves as Associate Director and Chief Statistician at the Office of Management and Budget and has held senior roles at the Consumer Financial Protection Bureau and the Federal Housing Finance Agency. Kyle Hauptman, serving until Oct. 24, 2029, is the chairman of the National Credit Union Administration and previously worked on the Senate Banking Committee. Steven Laughton, whose term concludes Oct. 24, 2026, is board counsel to PCAOB member Christina Ho and spent more than thirty years with the U.S. Department of the Treasury, including work on the Paycheck Protection Program.

Transition and Continuity

George Botic will remain on the board and continue as acting chairman until Logothetis is sworn in, ensuring continuity of leadership. Chairman Atkins also thanked former board members Christina Ho, Kara Stein and Anthony Thompson for their service.

Future Outlook

The newly constituted board is expected to refocus on the PCAOB’s core statutory mission—protecting investors and enhancing the accuracy and independence of audit reports—while pursuing efficient oversight of auditing practices.

This report is based on information from U.S. Securities and Exchange Commission, licensed under Public Domain (U.S. Government Work). Source: Official U.S. Government release.