While President-elect Obama continues to announce his cabinet picks, the Securities and Exchange Commission's chief accountant has announced he will step down.
WebCPA reported Monday that Conrad Hewitt, who has served for more than two years, will leave the agency next month when the new administration moves in. SEC Chairman Christopher Cox and corporate finance director John White will also be moving on. Of his time with the SEC, Hewitt said, in part:
I'm proud of our office's accomplishments and the steps we have taken to improve financial reporting transparency in these difficult economic times. ... I will miss the relationships we have forged while working together to solve a number of difficult problems.
Hewitt was a key part of the effort to move the U.S. toward International Financial Reporting Standards.