The Securities and Exchange Commission (SEC) has reappointed Erica Y. Williams to serve as chair of the Public Company Accounting Oversight Board (PCAOB). Her new term will begin on Oct. 25 of this year and expire on Oct. 24, 2029.

In a statement, Williams said, "I am honored to have Chair Gensler and the Commission's confidence and grateful for the opportunity to continue working alongside my fellow Board Members and the talented and dedicated PCAOB staff to protect investors. I'm proud of our work together and eager to continue executing our mission on behalf of investors who depend on U.S. capital markets to build their American dream."

Originally appointed in November 2021, Williams began her term in January 2022. During her tenure, she has implemented many changes, with an ambitious agenda emphasizing tougher enforcement and the updating of standards. During a conference in September 2022, she said, We intend to use every tool in our enforcement toolbox and impose significant sanctions, where appropriate, to ensure there are consequences for putting investors at risk and that bad actors are removed.”

Accounting Today reported that she and the other board members have made fast progress in updating decades-old PCAOB standards, while also disciplining audit firms through penalties and tougher inspections.

Before arriving at the PCAOB, Williams was a litigation partner at Kirkland & Ellis LLP. She previously spent more than a decade in different roles at the SEC, including as deputy chief of staff to three former SEC chairs and assistant chief litigation counsel in the SEC's Division of Enforcement trial unit. After leaving the SEC, she worked as special assistant and associate counsel to President Obama with a focus on financial and economic policy issues. She has both a J.D. and a B.A. from the University of Virginia.

In a statement, SEC Chair Gary Gensler said, "I thank Erica for her leadership and am pleased that she will continue to serve as Chairperson of the PCAOB. I also thank the PCAOB staff and the board for their diligent work to ensure that public company financial disclosures can be trusted by investors."