The Public Company Accounting Oversight Board (PCAOB) is an independent nonprofit corporation created by Congress under the Sarbanes–Oxley Act (2002) to oversee the audits of public companies and broker‑dealers to protect investors and the public interest. It sets auditing and related professional practice standards, inspects registered public accounting firms, and enforces compliance with laws, professional standards and rules governing audit firms and auditors.
The PCAOB chairman leads the Board, sets strategic priorities, represents the PCAOB publicly, and has primary responsibility for 실행 of Board policy and operations; other board members share governance, rulemaking, inspection and enforcement decisions as voting Board members but do not carry the singular leadership, public‑facing role, or (typically) the administrative authority the chair holds.
PCAOB board members and the chairman are nominated and formally appointed by the Securities and Exchange Commission (SEC). By statute the SEC selects and appoints PCAOB Board members; terms, removals, and other appointment procedures are governed by the PCAOB’s enabling statute and SEC rules.
Demetrios (Jim) Logothetis: retired 2019 after ~40 years at Ernst & Young (lead partner for large clients; vice‑chair of global accounts; Midwest managing partner for assurance/advisory); serves on Republic Bank of Chicago audit committee and CrossCountry Consulting advisory council. Mark Calabria: former director of the Federal Housing Finance Agency, current associate director and chief statistician at OMB and senior advisor at CFPB; prior HUD and NAR roles. Kyle Hauptman: current chairman of the National Credit Union Administration; former Senate Banking Committee staffer and roles at AEI, Jefferies, Lehman Brothers. Steven Laughton: PCAOB board counsel since 2022; >30 years at U.S. Treasury (senior counsel to general counsel, assistant general counsel) with experience on PPP legal work.
According to the SEC announcement reporting the appointments, the new members’ terms run to specific statutory expiration dates: Logothetis’s term ends Oct. 24, 2030; Calabria’s ends Oct. 24, 2027; Hauptman’s ends Oct. 24, 2029; and Laughton’s ends Oct. 24, 2026. The SEC said the transition and swearing‑in will occur over the following weeks; the acting chair (George Botic) will serve until Logothetis is sworn in.
Yes. New board members and a new chair can shift PCAOB policy and enforcement priorities by setting inspection focus, rulemaking and resource allocation (and the SEC has signaled a desire for ‘‘sensible, efficient oversight’’ and budget restraint). Changes could affect audit inspection targets, enforcement emphasis, and compliance costs for audit firms and public companies—potentially altering audit scrutiny, remediation timelines, and investor assurance. Exact changes depend on board decisions and rulemaking processes.
The SEC press release is available at the SEC newsroom URL (SEC press release 2026‑16). Official PCAOB biographies and governance information are on the PCAOB website under “About” and “Board Members.”