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U.S. SEC ousts head of accounting watchdog, puts rest of board on notice

·1 min read

WASHINGTON, June 4 (Reuters) - The U.S. Securities and Exchange Commission on Friday said it has voted to remove the head of the accounting oversight board that sets standards for audits of public companies and left the rest of the members on notice.

The SEC voted to remove William D. Duhnke III from his role as chairman of the Public Company Accounting Oversight Board, effective Friday, the agency said in a statement. The other four members will stay on, but the SEC is soliciting resumes for those roles.

The move comes after pressure from some Democratic lawmakers, who have said the board has been falling down on the job to oversee audit firms meant to keep publicly traded companies in check. (Reporting by Chris Prentice; Editing by Leslie Adler)