The man who oversaw Freddie Mac's earnings restatement, as well as its financial reporting improvements, has joined the Public Company Accounting Oversight Board.
Martin Baumann, 58, will work in the board's Office of Research and Analysis as a deputy director. Until stepping down from the position, Baumann has served as the chief financial officer for the country's second-largest mortgage provider .
He joined the company in March 2003 as executive vice president for finance after a 30-year career at PricewaterhouseCoopers and was named Freddie Mac's chief financial officer three months later. An accounting scandal exposed that same year would eventually result in a $5 billion earnings restatement and management overhaul at Freddie Mac. In a statement
Baumann will be responsible for managing the monitoring and analysis of accounting and auditing principles as well as related regulatory changes that impact specific companies and industries.
At PwC, Baumann served as partner, deputy chairman of the World Financial Services Practice and as global banking leader.
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