SEC's Top Accountant to Leave Agency

Jackson M. Day, the acting Chief Accountant for the Securities and Exchange Commission, has resigned his position and will be returning to the private sector.

Mr. Day joined the SEC in 2000 and took over the position of the Chief Accountant when Robert Herdman stepped down amid controversy surrounding the selection of William Webster as head of the SEC's Public Company Accounting Oversight Board.

Prior to joining the Commission, Mr. Day was a partner in Ernst & Young's National Office of Professional Practice in New York. From 1997 to 1999, he served as a Practice Fellow at the Financial Accounting Standards Board, where he focused on complex and unique accounting issues, worked with senior executives of FASB's constituencies, and coordinated with regulators, including the SEC.

Most recently, Mr. Day was in the news for rebuking the AICPA on its attempts to issue guidance in auditing standards - a job now squarely under the authority of the PCAOB.

"I have appreciated Jackson's advice and counsel during my transition to the Commission," said SEC Chairman William H. Donaldson. "Jackson's willingness to delay his return to the private sector for several months in order to assure continuity and leadership in the Office of the Chief Accountant reflects his dedication to the welfare of investors and to this Agency. His efforts have been critical to the implementation of the Sarbanes-Oxley Act. I will miss Jackson's expertise and the integrity of his views."

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