SEC Removes Trump-Appointed Audit Watchdog
The Securities and Exchange Commission (SEC) on June 4 announced the firing of William Duhnke, the chairman of the Public Company Accounting Oversight Board (PCAOB.)
The removal of Duhnke, an appointee of President Donald Trump, follows demands from Sen. Elizabeth Warren (D-Mass.) and Sen. Bernie Sanders (D-Vt.) for SEC Chairman Gary Gansler to sack the entire oversight board. Warren and Sanders alleged in a letter (pdf) on May 25 that the board’s oversight ability has been “compromised” by the prior administration.
The SEC designated Duane DesParte to serve as the acting chairperson of PCAOB. The commission also announced that it would seek fill all five of the seats on the board.