Fed's Olson named chairman of PCAOB

Federal Reserve governor Mark Olson was named on Monday 19 June as head of the Public Company Accounting Oversight Board, a U.S. watchdog that polices corporate auditors.

The U.S. Securities and Exchange Commission named Olson, a former partner with accounting firm Ernst & Young, to succeed Bill Gradison, who has been acting chairman of the five-member board since December.

SEC Chairman Christopher Cox called Olson "an exceptional addition" to board, based on his experience at the U.S. central

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