Donald Nicolaisen, a senior partner at PricewaterhouseCoopers, has been appointed the chief accountant at the SEC. He will oversee SEC policy initiatives and spearhead efforts to create international consensus on accounting issues.
He joined Price Waterhouse in 1967 (PwC's predecessor) and has been a partner since 1994. Nicolaisen is not totally fresh to the SEC; from 1988 to 1994 he led the national office for accounting and SEC services at Price Waterhouse.
One of his main challenges will be to endorse the principles-based accounting standards so recently adopted by the SEC.
"This is an extremely challenging time for the accounting profession and the nation's financial reporting system, but these challenges provide a fantastic opportunity to improve financial disclosure and help rebuild investor confidence," says Nicolaisen. "I am delighted to join the SEC at this critical juncture and look forward to serving America's investors."
He will join the SEC in late September.