PCAOB names new chief auditor
Washington, D.C. — The Public Company Accounting Oversight Board has named Megan Zietsman as its new chief auditor and director of professional standards, to assume the role in early 2019.
As chief auditor, Zietsman will lead the PCAOB’S efforts to set and interpret standards for the audits of domestic and foreign public companies that have securities traded in the U.S., along with the audits of broker-dealers registered with the U.S. Securities and Exchange Commission. Zietsman will also represent the PCAOB in meetings with the SEC, the Financial Accounting Standards Board, the International Auditing and Assurance Standards Board, and the International Ethics Standards Board for Accountants.
Currently a partner at Deloitte & Touche’s professional practice network in the U.S., Zietsman has 30 years of experience in the auditing profession. She began her career with Deloitte in South Africa in 1989. She has also served on the International Auditing and Assurance Standards Board since 2014 and is currently deputy chair.
The PCAOB thanked deputy chief auditor Barbara Vanich for her leadership as acting chief auditor over the past six months. She will continue in her role as acting chief auditor until Zietsman assumes the role.
Separately, the board approved a strategic plan for 2018-2022 in early December, along with a fiscal year 2019 budget.
The new strategic plan reflects the new values and strategies the board plans to advance over the next few years to fulfill its mission. The 2019 budget is $273.7 million and provides funding for up to 838 positions. It includes investments in personnel, processes and new technology.
The budget was approved by the Securities and Exchange Commission in late December.