Duane M. DesParte was appointed as a Board Member of the Public Company Accounting Oversight Board by the Securities and Exchange Commission in December 2017 and sworn in on April 9, 2018. He was reappointed in May 2019. He was designated as Acting Chairperson from June 2021 to January 2022. His current term expires on October 24, 2023.
He joined the Board after retiring from Exelon Corporation, where he served as corporate controller and in other financial roles for 15 years, following an 18-year career in the audit assurance business.
To advance the Board's goal of driving improvement in audit quality, Board Member DesParte is engaged in strategic initiatives related to the PCAOB's inspection program, firms' systems of quality control, and emerging technologies. He is also focused on enhancing the Board's external engagement with stakeholders, particularly with audit committees and preparers. Board Member DesParte is involved with the Board's international activities, including through serving as the PCAOB's representative on the Board of the International Forum of Independent Audit Regulators (IFIAR). Previously, Board Member DesParte served as an Officer of IFIAR for four years with his term as Chair ending in April 2023.
Board Member DesParte, a certified public accountant, was Exelon's corporate controller for 10 years, with chief accounting officer responsibilities for the integrity of the company's accounting and external financial reporting and related policies, methods, systems, processes, and controls. Earlier, he also led controller and finance functions at various Exelon business units.
Before joining Exelon, he was a partner at Deloitte for nine months, after a long career at Arthur Andersen. He worked at Andersen from 1985 - 2002, rising to partner.
Board Member DesParte graduated with the highest honors from the University of Illinois at Urbana-Champaign with a B.S. in accountancy. He previously served on the board and executive committee of the Civic Federation of Chicago; on the board, including as chair, for the Center on Halsted; and is currently on the governing board of the Chicago Symphony Orchestra.