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PCAOB Appears to Be Taking After Big Brother

TOLD YOU.jpgThe SEC has been setting a bad example for everyone. Now the Commission’s sloth-like urgency to appoint a chief accountant seems to have led the PCAOB to think that finding new board members really isn’t a big deal.
Chuck Niemeier announced that he will be leaving his position as a board member of the P very soon, even though his term ended almost a year ago. The PCAOB’s board members are allowed to stay on the board after their terms have ended until a replacement is found.
We suppose that you could give the P credit for having the foresight to write this rule in, as it’s pretty obv that no one really wants this job. Doesn’t make much difference anyway, as it’s not really clear just what the hell they’re doing over there, except making auditors’ lives more difficult and possibly ignoring independence violations.
IFRS Critic to Leave Accounting Firm Regulator [CFO]