Washington D.C., Sept. 27, 2023 —
The Securities and Exchange Commission today announced the appointment of George Botic, CPA to a term as a Board Member of the Public Company Accounting Oversight Board (PCAOB).
“I am pleased that George will serve on the PCAOB Board,” said SEC Chair Gary Gensler. “George will advance the PCAOB’s mission to build trust in the financial information that public companies disclose to investors. I also would like to thank Duane for his five years with the Board, including his service as Acting Chair.”
“I am honored to be selected to serve on the Board and look forward to working with Chair Williams, the other Board members, and the SEC in my new role to help advance investor protection and improve audit quality through improvements to our standards and rules and continuing our rigorous inspection and investigation programs,” said Mr. Botic.
The Sarbanes-Oxley Act of 2002 (SOX), as amended, established the PCAOB to oversee the audits of public companies and broker-dealers to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports. The PCAOB accomplishes these goals through registering public accounting firms, setting auditing standards, conducting inspections, and pursuing disciplinary actions. Mr. Botic will replace current Board member Duane DesParte, CPA.
Mr. Botic was most recently the Director of the PCAOB’s Division of Registration and Inspections, which includes the Global Network Firm Inspection Program, the Non-Affiliate Firm Inspection Program, the Broker-Dealer Auditor Interim Inspection Program, and the registration program. He oversaw the registration and inspection of all domestic and foreign accounting firms that audit public companies whose securities trade in the U.S., as well as all broker-dealer audits. He previously served in various roles at the PCAOB, including as its Director of the Office of International Affairs, special advisor to former Chair James R. Doty, and Deputy Director of the Registration and Inspections Division. Earlier in his career, Mr. Botic was a senior manager with PricewaterhouseCoopers. He is a graduate of Shepherd University and received a Master of Accountancy from Virginia Tech.
Mr. DesParte became a PCAOB Board member in April 2018 and served as its Acting Chair from June 2021 to January 2022. During his tenure at the Board, Mr. DesParte emphasized stakeholder engagement, particularly with audit committees and preparers, and he has been extensively involved in the PCAOB’s international activities, including serving as Chair of the International Forum of Independent Audit Regulators from October 2020 to April 2023.