Accounting Board Chairman to Resign
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From Reuters
William McDonough said he would step down as chairman of the Public Company Accounting Oversight Board, a U.S. panel created to clean up the auditing business after a series of corporate scandals.
McDonough, 71, said he would resign effective Nov. 30 or when his successor was in place. The outspoken and often irreverent former president of the New York Federal Reserve managed the creation of the accounting board almost from scratch.
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