The Securities and Exchange Commission today announced that Chief Accountant Paul Munter plans to retire from federal service effective Jan. 24, 2025. Mr. Munter joined the agency in 2019, was named Acting Chief Accountant in 2021, and was appointed Chief Accountant in January 2023.
“I thank Paul for his leadership of the Office of the Chief Accountant, his counsel, and his clear accounting advice,” said SEC Chair Gary Gensler. “As Chief Accountant, he led the office in the critical work of ensuring that investors have access to the highest-quality financial disclosures from public companies. I wish him the best in his retirement from federal service.”
As Chief Accountant, Mr. Munter led the Commission’s oversight of the Financial Accounting Standards Board, which issued many standards to drive improvements in information for investors including disaggregation of income statement expenses (Accounting Standards Update 2024-03), improvements in income tax disclosures (Accounting Standards Update 2023-09), and accounting for investments in crypto assets (Accounting Standards Update 2023-08). Additionally, the Office of the Chief Accountant led the Commission’s oversight of the activities of the Public Company Accounting Oversight Board, which issued a number of new or improved auditing standards related to quality control, use of other auditors, confirmations, and general responsibilities of the audit.
During Mr. Munter’s tenure, he published 22 statements and speeches addressing matters such as financial reporting issues by special purpose acquisition companies, materiality assessment, risk assessment, auditor independence, and audit firm culture.
“It has been the honor of my career to serve investors and our markets as the Chief Accountant for the past four-plus years and lead the outstandingly talented and dedicated professionals of the Office of the Chief Accountant,” said Mr. Munter.
Prior to arriving at the SEC, Mr. Munter was a senior instructor of accounting at the University of Colorado Boulder. He retired from KPMG, where he served as the lead technical partner for the U.S. firm’s international accounting and International Financial Reporting Standards (IFRS) activities and served on the firm’s international panel responsible for establishing firm positions on the application of IFRS.
Mr. Munter earned his Ph.D. in accounting from the University of Colorado. He received his B.S. and M.S. degrees in accounting from Fresno State University. He is a Certified Public Accountant in Colorado, New York, and Florida.
