The Securities and Exchange Commission has named James Kroeker chief accountant, a move that sees him replace Conrad Hewitt who retired in January. Kroeker has been acting in the role since then, but was permanently appointed today by SEC chairman Mary Schapiro. Having acted as the staff director for the SEC's congressionally-mandated study of fair value accounting standards, Kroeker has vast experience in current accounting issues which have arisen as a result of the financial crisis. He has also been active in making proposals for improvements to off-balance sheet accounting standards.

'Investors will benefit from Kim's sound judgment and dedication to making financial information more transparent and understandable,' Schapiro said. 'He will play an instrumental role as we consider various ways to improve financial reporting to investors.' Kroeker's career has seen him serve in roles such as partner at Deloitte and as a practice fellow at the US standard-setter, the Financial Accounting Standards Board. 'The financial crisis has highlighted once again the importance of transparent and high-quality financial reporting to investors. I am honoured by the opportunity to continue working with chairman Schapiro, the other commissioners and the outstanding staff of the office of the chief accountant as we continue our efforts to protect the investing public,' Kroeker said.