Retired Audit Partner Takes Helm of Reconstituted US Audit Board

The US audit board entered a new era Tuesday with the installation of three leaders, including retired EY audit partner Demetrios Logothetis as chair.

Mark Calabria and Steven Laughton joined Logothetis to take their seats as members of the Public Company Accounting Oversight Board, charged with delivering cost-effective oversight of auditors. Under its new leadership, the board is expected to follow the SEC’s lead with a more relaxed approach toward regulation, including a lighter enforcement caseload and a possible redesign of the board’s inspections approach.

The Securities and Exchange Commission, which oversees the PCAOB, last month also ...