Statement Summary
Kurt Hohl, Chief Accountant at the SEC, spoke at the 2025 AICPA Conference, outlining the Office of the Chief Accountant’s (OCA) priorities for improving financial reporting. These priorities include:
- Addressing emerging issues like AI and crypto assets
- Overseeing FASB and PCAOB activities to enhance audit quality and transparency
- Advocating for stronger international standards
OCA is focused on maintaining auditor independence amidst evolving technologies and private equity influences while ensuring quality standards keep pace with business changes. The office is committed to enhancing its capabilities by investing in staff and resources. OCA’s mission remains centered on protecting investors and ensuring integrity in financial reporting, welcoming ongoing dialogue with stakeholders.
Original Statement
This statement describes remarks made by Kurt Hohl, Chief Accountant, during a fireside chat with Julie Bell Lindsey, CEO of the Center for Audit Quality, at the 2025 AICPA Conference on Current SEC and PCAOB Developments held on December 8, 2025, in Washington, D.C.
Introduction
The federal securities laws establish the authority of the Securities and Exchange Commission (“SEC” or “Commission”) to set accounting, auditing, and auditor independence standards to be followed in the preparation and the audit of the financial statements of public companies. The SEC’s Office of the Chief Accountant (“OCA”) is led by the Chief Accountant, who serves as the principal advisor to the Commission on accounting and auditing matters pertaining to application of the federal securities laws.
The staff in OCA are dedicated to improving the financial reporting ecosystem to ensure that such reporting is decision-useful and transparent for the benefit of investors and our capital markets.
OCA’s Priorities
Recently, OCA has had the opportunity to engage with a wide range of stakeholders and reflect on how we can best support the Commission in its mission to protect investors, maintain fair, orderly and efficient markets, and facilitate capital formation. We have identified five key priorities:
1. Responsiveness to Emerging Issues
We continue to operate in a dynamic environment shaped by innovation, evolving business models, and global interconnectivity. From artificial intelligence (“AI”) to crypto assets, emerging technologies are transforming how companies operate and how financial information is prepared and used.
OCA is committed to ensuring that accounting and auditing frameworks keep pace with these developments. We are focused on understanding the implications of innovation across the financial reporting ecosystem, including the impacts to investors, preparers, audit committees, audit firms, standard setters, and other stakeholders.
Impartiality and objectivity are cornerstones of public accounting, especially in the context of auditing. Auditor independence is under increasing pressure in the age of AI due to both technological and ethical complexities. Our goal is to support innovation that benefits public markets while preserving the trust and integrity upon which financial reporting depends.
2. Oversight of the FASB’s Activities
High-quality accounting standards are foundational to transparent, decision-useful financial reporting. Our oversight of the FASB is grounded in supporting a standard-setting process that is responsive, based on sound principles, and focused on the needs of investors and other users of the financial statements.
We continue to work closely with the FASB to share insights from accounting consultations and industry engagement, and we support efforts to enhance the transparency, timeliness and overall effectiveness of the standard-setting process.
3. Oversight of the PCAOB’s Activities
The PCAOB plays a vital role in the capital markets ecosystem by promoting audit quality and supporting investor confidence. Audit firms have made significant efforts to improve audit quality in recent years. However, the PCAOB and audit firms are also affected by innovation and the changing business environment.
We support a more transparent and responsive audit standard-setting process and believe the PCAOB should consider additional transparency in its standard-setting process.
4. Monitor International Standard Setting and Governance
The use of international accounting and auditing standards is widespread in U.S. capital markets. Investor confidence in global capital markets depends on the high-quality accounting and auditing standards issued by these entities.
We are closely monitoring the governance and funding of international standard-setting bodies, including the IASB and the IAASB.
5. Strengthening OCA’s Capabilities
Our office is focused on strengthening its overall capabilities to effectively support the Commission’s mission. This includes continued investment in our people, processes, and tools to ensure we have the right expertise, capacity, and infrastructure to meet evolving demands.
We are also exploring opportunities to leverage emerging technologies, like AI, to modernize our internal processes and drive improvements in efficiency, consistency and effectiveness across our office.
Closing
The Office of the Chief Accountant remains committed to thoughtful oversight, proactive engagement, and continuous improvement. We welcome continued dialogue with all stakeholders—preparers, auditors, investors, and regulators—and we appreciate your partnership in advancing the quality and integrity of financial reporting.
