PCAOB Chairman Duhnke and Board Member Hamm Sworn in Today
The Public Company Accounting Oversight Board announced that William D. Duhnke III was sworn in today as Chairman and Kathleen M. Hamm was sworn in as a Board member. The ceremony took place at the Securities and Exchange Commission.
"I am pleased to lead the PCAOB in its mission to protect Main Street investors and promote public trust in quality audits of public companies whose securities trade in U.S. markets," said Chairman Duhnke. "As the other new Board members join the PCAOB, I look forward to developing a collaborative and consensus-based approach to PCAOB's programs and operations and advancing sustainable audit quality that benefits the capital markets."
Immediately prior to joining the PCAOB, Chairman Duhnke served as majority staff director and general counsel of the U.S. Senate Committee on Rules and Administration under Chairman Richard C. Shelby. The committee has jurisdiction over the rules and administration of the Senate and leads the strategic planning and implementation process for the functional and technical infrastructure support of the Senate.
Earlier, Chairman Duhnke twice served as the staff director and general counsel for the Senate Committee on Banking, Housing, and Urban Affairs. The committee has oversight and legislative jurisdiction over a wide array of matters affecting financial services, including oversight responsibility for financial regulators such as the SEC and the PCAOB.
A Wisconsin native, Chairman Duhnke served in the U.S. Navy, rising to Lieutenant and serving in The White House. Read Chairman Duhnke's full biography.
Board Member Hamm came to the PCAOB from Promontory Financial Group, where she was the global leader of securities and fintech services and senior strategic adviser to the chief executive officer on cyber solutions.
She served at the U.S. Treasury Department from 2014 to early 2017 as counselor to the deputy secretary, spearheading Treasury's development of a domestic and international cybersecurity strategy and related policy initiatives for banks and other financial firms. Read Board Member Hamm's full biography.
"Audit quality is vital to the effective operation of the capital markets and key to investor protection. I look forward to contributing to PCAOB's oversight of this important function," said Board Member Hamm.
The SEC has appointed three other new Board members to the PCAOB, J. Robert Brown, James Kaiser, and Duane DesParte, who will join the Board shortly.
Board Member Jeanette M. Franzel will continue as a Board member, pending the arrival of new Board members. Former Chairman James R. Doty, and Board Members Steven B. Harris, and Lewis H. Ferguson have completed their service at the PCAOB.
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.