Board Member Charles D. Niemeier Announces Intention to Leave the PCAOB

Charles D. Niemeier, Board Member of the Public Company Accounting Oversight Board, announced today that he intends to leave the PCAOB in the near future.

“I am grateful for the opportunity to serve as one of the founding Board Members of the PCAOB and to play a role in its development. Although I believe that investors have benefited from the promotion of high quality audits through the Board’s programs, there is much more work to be done. The mission of the PCAOB is no less important today than it was when Congress created the organization,” said Mr. Niemeier.

“As a fellow founding Board Member, it has been a pleasure working with Charley for the past seven years,” said Acting PCAOB Chairman Daniel L. Goelzer. “He has served the investing public well and, on a personal level, I will miss his sound counsel and deep experience.”

Prior to his appointment to the PCAOB, Mr. Niemeier served as the Chief Accountant of the Division of Enforcement of the Securities and Exchange Commission and Co-Chair of the SEC’s Financial Fraud Task Force. Prior to joining the SEC, Mr. Niemeier was a partner in the Washington, D.C. law firm of Williams & Connolly LLP. In addition to being an attorney, Mr. Niemeier is a Certified Public Accountant.

Mr. Niemeier’s term ended on October 25, 2008, but Board Members may remain in their positions until a successor is appointed.