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McHenry Statement on Termination of PCAOB Chair Duhnke and Opening of PCAOB Board Positions
Washington,
June 4, 2021 -
Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), released a statement regarding the move by Securities and Exchange Commission (SEC) Chair Gary Gensler to terminate William Duhnke as Chairman of the Public Company Accounting Oversight Board (PCAOB) and his intent to fill all five PCAOB Board seats with handpicked appointees.
“This is unprecedented and a blatant politicization of an independent PCAOB,” said Republican Leader McHenry. “Chairman Gensler appears to be treating the PCAOB like a political football beholden to a left-wing Democrat Commission that panders to progressives like Elizabeth Warren. If this is the case, it’s unclear why the PCAOB should continue to exist as a separate entity from the SEC going forward. I have a lot of questions about how and why the Chair took this action, including whether or not Commissioner Lee recused herself from a Commission vote given her conflicts of interest, and I will be holding Mr. Gensler accountable for this decision.”
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