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Investor Advocates Urge Gensler to Replace Audit Board Chair (1)

April 21, 2021, 12:04 AMUpdated: April 21, 2021, 1:08 AM

A group of investor advocates is calling on newly confirmed SEC Chair Gary Gensler to quickly name a new leader of the regulator that oversees the work of public company auditors.

The group urged Gensler to fill an open seat on the Public Company Accounting Oversight Board and name that person as the board’s chair. Leadership changes and other reforms are needed to restore the board’s focus on protecting investors, the 12 signatories wrote in an April 19 letter.

Board members serve five-year, staggered terms, although the Securities and Exchange Commission, which oversees the PCAOB, can replace and ...