RIP James Schnurr, Former SEC Chief Accountant
The SEC confirmed last night some sad news we saw being shared on Twitter yesterday that former Chief Accountant James Schnurr has passed away. SEC Chairman Jay Clayton said in a statement: “Jim was a dedicated and respected public servant who left us far too soon. While at the Commission, he was committed to establishing […]
Former SEC Chief Accountant Broke His Neck In 2016 Bike Crash, Awarded $41 Million In Damages By Jury
Back in July 2016 when I was working at AccountingWEB, I remember an SEC press release coming across my virtual desk announcing that Wesley Bricker had been named interim chief accountant. I remember thinking, “Wait, what happened to James Schnurr? He had just spoken at some accounting conference, somewhere, about something, it seemed.” The July […]
Auditors, PCAOB Earn Attaboys From SEC Chief Accountant
SEC Chief Accountant James Schnurr says that, although "there's room for improvement" audit quality "is getting better" and the PCAOB has "deepened their expertise" and "their inspection process has matured." This explains why we've seen more deficiencies, he says. I'm sure KPMG appreciates the vote of confidence. [AT]
Audit Committees Might Get More Homework
Chief Accountant James Schnurr let it slip that the Commission is preparing a concept release that will, "[seek] formal feedback from investors about whether they are getting enough information from audit committees." Former Deloitte CEO Jim Quigley, may be one of the few audit committee members who are saying, "BRING IT ON." [CFOJ]