The U.S. Securities and Exchange Commission announced that Chief Accountant Paul Munter plans to retire from federal service effective Jan. 24, 2025. Munter joined the agency in 2019, served as Acting Chief Accountant from 2021, and was appointed Chief Accountant in January 2023. During his tenure, the Office of the Chief Accountant led the SEC’s oversight of the Financial Accounting Standards Board and the Public Company Accounting Oversight Board. The release highlighted FASB standards on disaggregation of income statement expenses (Accounting Standards Update 2024-03), improved income tax disclosures (Accounting Standards Update 2023-09), and accounting for investments in crypto assets (Accounting Standards Update 2023-08), as well as PCAOB auditing standards on quality control, use of other auditors, confirmations, and the general responsibilities of the auditor. Munter also published 22 statements and speeches addressing topics including financial reporting issues by special purpose acquisition companies, materiality and risk assessment, auditor independence, and audit firm culture.
U.S. Securities & Exchange Commission 2025-01-14
U.S. Securities and Exchange Commission announces Chief Accountant Paul Munter will retire effective 24 January 2025
The U.S. Securities and Exchange Commission announced the retirement of Chief Accountant Paul Munter, effective January 24, 2025. During his tenure, Munter oversaw the SEC's engagement with the Financial Accounting Standards Board and the Public Company Accounting Oversight Board, contributing to key standards updates and publishing 22 statements on various financial reporting topics.