SEC chief accountant to retire

The Securities and Exchange Commission's chief accountant, Paul Munter, announced his plans to retire from federal service, effective Jan. 24.

Munter joined the agency in 2019, was named acting chief accountant in 2021 and was appointed chief accountant in January 2023. As chief accountant, he led the SEC's oversight of the Financial Accounting Standards Board and the Public Company Accounting Oversight Board. During his tenure, he published 22 statements and speeches addressing matters such as financial reporting issues by special purpose acquisition companies, materiality assessment, risk assessment, auditor independence and audit firm culture.

"I thank Paul for his leadership of the Office of the Chief Accountant, his counsel and his clear accounting advice," SEC chair Gary Gensler said in a statement Tuesday. "As Chief Accountant, he led the office in the critical work of ensuring that investors have access to the highest-quality financial disclosures from public companies. I wish him the best in his retirement from federal service."

Prior to joining the SEC, Munter was a senior instructor of accounting at the University of Colorado Boulder. He retired from KPMG where he was the lead technical partner for the U.S. firm's international accounting and International Financial Reporting Standards activities. He also served on the firm's international panel responsible for establishing firm positions on the application of IFRS.

He earned his Ph.D. in accounting from the University of Colorado. He received his B.S. and M.S. degrees in accounting from Fresno State University. He is a CPA in Colorado, New York and Florida.

"It has been the honor of my career to serve investors and our markets as the Chief Accountant for the past four-plus years and lead the outstandingly talented and dedicated professionals of the Office of the Chief Accountant," Munter said in a statement.