William D. Duhnke III was sworn in as chairman while Kathleen M. Hamm has been installed on the board.
“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 Duhnke, who previously served as majority staff director and general counsel of the Senate Committee on Rules and Administration under Chairman Richard C. Shelby. “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.”
The PCAOB 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.
“Audit quality is vital to the effective operation of the capital markets and key to investor protection,” said Hamm, who served at the Treasury Department from 2014 to early 2017 as counselor to the deputy secretary. “I look forward to contributing to PCAOB’s oversight of this important function.”