The Securities and Exchange Commission has appointed a new deputy chief accountant in the Office of the Chief Accountant, Marc A. Panucci, a partner in PwC’s national professional services group.
Panucci has over 22 years of experience in public accounting, standard-setting and regulation. He is a member of the American Institute Of CPAs’ Auditing Standards Board. Panucci previously worked at the SEC from 2007 to 2010. He is set to begin his new job later this month, succeeding Brian T. Croteau,, another former PwC partner who announced plans in July to step down (see SEC Deputy Chief Accountant Croteau Departing).
He will be in charge of the SEC Office of the Chief Accountant’s professional practice group, including understanding investor and audit committee perspectives and consulting with companies and auditing firms on the various requirements and standards. He will also help the SEC with its oversight of the Public Company Accounting Oversight Board.
“I am very appreciative and excited that Marc has agreed to return to the Office of the Chief Accountant to oversee the professional practice group,” said SEC Interim Chief Accountant Wesley R. Bricker in a statement. “Marc’s prior experience as an SEC senior associate chief accountant as well as his expertise and wealth of experience in public accounting will provide critical service to investors, companies and the Commission.”
Panucci is licensed as a CPA in Pennsylvania and New Jersey. “I am honored for this opportunity,” he said in a statement. “As someone who has previously served in the professional practice group, I have seen the talent and dedication of the group’s staff in addressing internal control over financial reporting, independence, and audit issues related to investor protection, and I look forward to continuing to build on the group’s many successes.”
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