SEC

Jay Clayton, who has led the U.S. Securities and Exchange Commission for most of President Donald Trump’s term in office, said in a statement Monday that he will step down at the end of the year.

Bober Markey Fedorovich adopts new governance structure; Citrin Cooperman promotes 16; and more CPA news.

The Division of Enforcement's annual report also highlights non-pandemic-related issues that arose in fiscal year 2020 and strategic operational changes.

The commission has been busy helping public companies report the impact of COVID-19.

The award is the highest in the history of the congressional program.

PricewaterhouseCoopers is teaming up with the Sustainability Accounting Standards Board on translating its standards into Extensible Business Reporting Language, while also rolling out its own ESG Pulse application for environmental, social and governance reporting at companies.

The Securities and Exchange Commission voted to adopt amendments to its longstanding auditor independence requirements, relaxing restrictions on relationships between auditors and their clients as part of a deregulatory push by the SEC in recent years.

James Kaiser, a member of the Public Company Accounting Oversight Board since 2018, is leaving the PCAOB and will be replaced by chief auditor Megan Zietsman in another sign of turmoil at the audit overseer.

J. Robert Brown criticized recent moves by the Public Company Accounting Oversight Board to strip down its research and standard-setting agendas without proper consultation.

General Electric Co. warned that it’s likely to face Securities and Exchange Commission allegations of accounting misdeeds, setting back CEO Larry Culp’s effort to put the company’s rocky past behind it.