NEW YORK, Dec. 4, 2012 /PRNewswire/ -- Deloitte today announced James L. Kroeker, former Securities and Exchange Commission Chief Accountant, has agreed to join the organization as deputy managing partner, professional practice, effective January 7, 2013, pending approval by Deloitte LLP's board of directors.
Kroeker will serve in a leadership role reporting directly to the Deloitte & Touche LLP CEO, promoting high audit quality and serving as a senior consultative resource to help Deloitte engagement teams and clients reach high quality financial reporting conclusions in the public interest.
Previously, Kroeker served as the SEC's Chief Accountant since January 2009, guiding the operations of the SEC's Office of the Chief Accountant and counseling the Commission on a wide range of accounting and auditing issues.
"Jim has a unique perspective in accounting and auditing having deep technical knowledge, practical client service expertise, and experience as a regulator in his latest role as chief accountant at the SEC," said Joseph Echevarria, chief executive officer, Deloitte LLP. "Our top priority is audit quality and Jim's contributions will be invaluable to the work we do serving audit committees, investors and the public interest. We are delighted he is joining our organization."
During his SEC tenure, Kroeker served as staff director of the agency's study of fair value accounting standards, which was mandated by Congress in 2008, and led the efforts of the Office of the Chief Accountant to improve off-balance sheet accounting standards. He also guided the Commission's efforts as it continues to consider convergence of U.S. and international accounting standards. He joined the SEC in 2007 as Deputy Chief Accountant.
"After considering numerous opportunities, I am thrilled to be joining Deloitte. Deloitte has an outstanding legacy of leadership in the advancement of the auditing profession. Such leadership is as essential to investors today as it has been at any time in history, and today I see Deloitte playing a critical role in leading the profession to a new standard of audit quality," explained Kroeker. "I look forward to being a part of this continuing legacy."
Prior to joining the SEC staff in 2007, Kroeker was a partner at Deloitte, serving in the accounting services group.
Deloitte provides audit and other attest services, as well as risk advisory services, to leading enterprises and is registered with the U.S. Public Company Accounting Oversight Board to perform audits of U.S. public companies. Advisory assists clients in identifying, assessing, implementing and managing risk strategies related to strategic, regulatory, financial, operational and technology risks. Advisory professionals also play an important role in the delivery of audit services as technology and risk specialists.
As used in this document, "Deloitte" means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.