SEC/New appointments, end of a saga, SAB 98, and more
✍ Scribed by Robert W. Rouse
- Publisher
- John Wiley and Sons
- Year
- 1998
- Tongue
- English
- Weight
- 262 KB
- Volume
- 9
- Category
- Article
- ISSN
- 1044-8136
No coin nor oath required. For personal study only.
✦ Synopsis
In announcing Lynn's appointment, Chairman Levitt said, "Lynn has worked at the SEC, as an auditor, as a standard setter, and most recently as the CFO of a high-tech company. He has sat on all four sides of the table, giving him a keen understanding of the various and sometimes competing needs and views of the participants in the financial reporting process. This unique background, combined with a zeal for fairness and transparency, will make Lynn an effective advocate for investors."
Lynn served as a professional accounting fellow (PAF) in OCA from 1989 to 1991. He left the Commission to return to Coopers & Lybrand as a partner in the national high-technology group in Denver. In 1996 he became CFO of Symbios Logic in Denver and was involved in crafting accounting guidance for internal use software.
Given the efforts to harmonize international standards in the accounting and auditing arenas, the continuing struggle for transparent accounting for financial instruments, and emerging independence issues, Lynn's plate will be quite full. Welcome back, Lynn.
Other late-spring news included the announcement of the successor to Bill McLucas, the long-time and highly respected Director of the Division of Enforcement. Richard H. Walker joined the Commission in 1991 and has served as General Counsel for the past two years. In this capacity, Mr. Walker coordinated the government's successful appeal to the Supreme Court in the U.S. v. O'Hugun case, a landmark decision that upheld the misappropriation theory of insider trading. He also oversaw the preparation of the report to the President and the Congress on the impact of the Private Securities Litigation Reform Act of 1995.
In announcing his appointment, Chairman Levitt remarked, "Dick Walker represents a great combination of 'outside' experience and 'inside' knowledge. In Robe& w. Rouse, ph.D., cpA, is professor at the College of Charleston. He served as an Academic Fellow in the Ofice of the Chief Accountant at the SEC.