Washington (Nov. 14, 2002) -- The Securities and Exchange Commission has named Jackson M. Day as its Acting Chief Accountant, Chairman Harvey Pitt announced.

Day replaces Robert K. Herdman, who stepped down last Friday for his role in the appointment of William H. Webster as chairman of the Public Company Accounting Oversight Board.

Webster resigned Tuesday as head of the PCAOB. His appointment is under investigation by the Securities and Exchange Commission and the General Accounting Office following his disclosure that Pitt knew of Webster's role as head of the audit committee of U.S. Technologies, which is under investigation for fraud.

Day, 38, has served as the Commission's Deputy Chief Accountant since September of 2000. Prior to joining the Commission, he was a partner in Ernst & Young's National Office of Professional Practice in New York.

-- Electronic Accountant Newswire staff

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