Congressman Kanjorski Statement on Bill McDonough's resignation from Public Company Accounting Oversight Board:

"Bill McDonough has served American investors with great distinction in establishing the PCAOB as a credible overseer of the auditing community and bringing stability to our capital markets in the wake of Enron, WorldCom and other accounting misdeeds," said Congressman Paul E. Kanjorski (D-PA), the most senior Democrat on the House subcommittee with jurisdiction over the accounting industry.  "As the SEC now begins the process of identifying his replacement, it is my sincere hope that it will select someone of similar stature, judiciousness and temperament to lead the PCAOB going forward."