I am pleased that the Commission has appointed four new members, including a new Chairman, to the Public Company Accounting Oversight Board (“PCAOB”). George Botic, who has served as Acting Chairman since July 2025, will continue to serve as a Board Member. I am confident that this new Board will usher in a new day at the PCAOB—one of sensible, efficient oversight of auditors.
When we began the search process for new PCAOB Board members in July 2025, I highlighted the role that the PCAOB plays in serving the public interest by helping to protect the integrity of public companies through oversight of auditing firms, and thus the broader public markets, in a manner that minimizes unnecessary costs for the public companies and broker-dealers who ultimately fund the PCAOB’s budget.[1] The newly appointed Chairman and Board Members have already demonstrated a profound commitment to protecting investors and responsible use of such funds by accepting compensation much more in line with the ethos of public service.
I look forward to working with this Board as it refocuses on the PCAOB’s core statutory mission—protecting investors and furthering the public interest in the preparation of informative, accurate, and independent audit reports. Demetrios (Jim) Logothetis, Mark Calabria, Kyle Hauptman, and Steve Laughton bring a wide variety of experiences to their service on the Board, and I look forward to their fresh perspectives on how to best drive improvements in audit quality and fulfill the Board’s statutory responsibilities.
I want to thank the current Board members for their dedicated service in advancing the PCAOB’s important mission. Acting Chairman George Botic, and Board members Christina Ho, Kara Stein, and Anthony Thompson have carried out their many important responsibilities with diligence and professionalism. I expect the transition to the new Board will occur very quickly over the next few weeks. I also want to thank SEC staff, especially in the Office of the Chief Accountant and Office of the General Counsel, for their assistance with the Board selection process.
The SEC and the PCAOB often work closely on matters important to our capital markets. I intend to actively engage with the new Board as it pursues the PCAOB’s priorities and objectives over the coming years.
[1] Paul S. Atkins, Chairman, U.S. Securities and Exchange Commission, Statement on Commencement of Appointment Process for Five Public Company Accounting Oversight Board Seats (July 23, 2025), https://www.sec.gov/newsroom/speeches-statements/atkins-pcaob-board-072325.