Duane M. DesParte is Sworn in as PCAOB Board Member
The Public Company Accounting Oversight Board announced that Duane M. DesParte was sworn in today as a Board member. The ceremony took place at the Securities and Exchange Commission, making him the fifth and final new member to join the board this year.
He joins the board after retiring from Exelon Corporation, where he served as Corporate Controller and in other financial roles for the past 15 years, following an 18-year career in the audit assurance business.
"We are fortunate that Duane DesParte is joining us, rounding out the expertise and diversity of the new board with his deep experience in both the preparation as well as the audit of corporate financial statements," said Chairman William D. Duhnke.
Board Member DesParte, a certified public accountant, was Exelon's Corporate Controller for the last 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.
Before joining Exelon, he was a partner at Deloitte for nine months, after a long career at Arthur Andersen. He worked at Arthur Andersen from 1985-2002, rising to Partner in 1998.
"High quality financial reporting is essential to our capital markets and I look forward to partnering with my fellow board members to drive audit quality and protect the interests of investors," said Board Member DesParte.
The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate, and independent audit reports. The PCAOB also oversees the audits of brokers and dealers, including compliance reports filed pursuant to federal securities laws, to promote investor protection.