As deputy chief accountant, Day will oversee the accounting and audit practices. The appointment comes at a difficult time for Big 5 firms as the SEC continues its hearings to determine if independence between an accounting and consulting practice is in jeopardy within firms.
Politically, Ernst & Young supports the SEC's plan, and already separated its consulting practice by selling it to Cap Gemini. PricewaterhouseCoopers also has announced plans to separate its practices.
Day will officially begin his duties Sept. 15.