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Three Accounting Fellows Also Appointed

As Lynn Turner joins the SEC as Chief Accountant on July 1, he begins to grapple with a number of pressing issues in the accounting profession, including the development and coordination of international accounting standards and auditor independence and the work of the new Independence Standards Board.

In announcing the appointment of Turner, SEC Chairman Arthur Levitt noted, "Lynn has worked at the SEC, as an auditor, as a standard setter, and most recently as the CFO of a high-tech company, giving him a keen understanding of the views of the participants in the financial reporting process."

Previously, Turner served as chief financial officer and vice-president of Symbios, Inc., a Colorado-based manufacturer of semiconductors and storage systems. Prior to that, he was a partner at Coopers & Lybrand, where he was an SEC consulting partner and the national practice leader for the firm's High Technology Audit Practice.

The SEC's Office of the Chief Accountant also recently selected Eric W. Casey, Pascal Desroches, and Paul R. Kepple to serve as Professional Accounting Fellows for two-year terms which began in June. Previously, Casey and Desroches were senior managers in KPMG Peat Marwick LLP's Department of Professional Practice in New York, and Kepple was a senior manager in the national office of Price Waterhouse LLP in Stamford, Connecticut.

The newly-selected professional accounting fellows will work with the chief accountant and other fellows to study and develop rule proposals under the Federal securities laws, liaison with the professional accounting and auditing standards-setting bodies, and consult with registrants on accounting and reporting matters.

The Fellowship Program began in 1972 to help foster better communications between the commission and the private sector. Chief Accountant Turner served as a fellow from 1989 to 1991, focusing on oversight of the professional standards setting practice. *

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