Acting Director of the Office of Economic and Risk Analysis Patricia Ledesma to Leave the PCAOB

The Public Company Accounting Oversight Board today announced that Patricia Ledesma, Acting Director and Chief Economist, Research and Economic Tools, in the Office of Economic and Risk Analysis (ERA), will leave the PCAOB in June after more than five years of service. 

"Dr. Ledesma is well-respected for her dedication to developing and managing research programs,” said Chairman William D. Duhnke. "We are grateful for her hard work to advance the PCAOB’s economic analysis programs and wish her all the best in the future."

In 2014, Dr. Ledesma joined the PCAOB as Program Leader to build the Center for Economic Analysis.  In her role, she worked to advance evidence-informed policy and foster economic research on auditing.  In 2017, the Center for Economic Analysis grew into the ERA, of which Dr. Ledesma was appointed as Acting Director.

Among other accomplishments, Dr. Ledesma developed the PCAOB's research fellowship program, a regular seminar series, and the annual research conference on “Auditing and Capital Markets.”  To date, the research program has resulted in 22 papers in circulation, including work by fellows and staff economists.  Eight papers have been published or are forthcoming in peer-reviewed journals.

Under her tenure as Acting Director of ERA, the PCAOB produced its first post-implementation review of a PCAOB rule or standard on AS 1220: Engagement Quality Review.  She also led efforts to build the PCAOB’s research infrastructure to enable the organization to derive insights and better leverage data and information collected as part of the PCAOB’s oversight activities.

“I am grateful for the opportunity I had to develop and work with the ERA staff to further the PCAOB’s important mission of protecting investors and the public interest,” said Dr. Ledesma.  “I appreciate the leadership and support of Chairman Duhnke and the Board, as well as previous Chairmen and Boards.” 

Before joining the PCAOB, Dr. Ledesma worked as an Assistant Dean and Director of Research Support at Northwestern University’s Kellogg School of Management. She earned a BA in social sciences at Pontificia Universidad Católica del Perú, and received her MA and PhD in economics from the University of Notre Dame.