Zeff on Short List For SEC Post

Zeff on Short List For SEC Post
RICE NEWS OFFICE
March 12, 1998

Stephen A. Zeff, the Herbert S. Autrey Professor of Accounting at Rice, is
on the short list of candidates for chief accountant for the Securities and
Exchange Commission (SEC).

Arthur Levitt, chairman of the SEC, and senior SEC officials interviewed Zeff
in January. He is among a handful of candidates being considered for the post.

It is very unusual for the SEC to approach an academic for this post, said
Zeff, adding, "It is an honor to be considered."

The chief accountant is responsible for advising the SEC on accounting and
auditing matters. All of the some 13,000 companies traded in the U.S. capital
market are affected by the commission’s accounting and auditing policies. The
chief accountant sometimes testifies before Congressional committees on contentious
matters.

The mission of the SEC is to provide protection for investors and ensure that
the securities markets are fair and honest. The commission consists of five
members appointed by the president of the United States with the advice and
consent of the Senate. The commission has a full-time staff of about 2,600 employees.

According to a Feb. 5 story in the Wall Street Journal, other candidates include
David Landsittel, a retired partner of Arthur Andersen; Ronald Murray, a retired
partner of Coopers & Lybrand; Edmund Noonan, a KPMG Peat Marwick partner;
and Jerry Sullivan, the executive director of the Public Oversight Board, which
assists the SEC with enforcing auditing and accounting standards.

The position of chief accountant is a strenuous and challenging one.