As the Securities and Exchange Commission (SEC) vets candidates to serve as members of the Public Company Accounting Oversight Board (PCAOB), board member Christina Ho said that she is not seeking a second term and will conclude her service effective the earlier of January 31, 2026, or the date the commission appoints new members, the audit regulator said on December 2, 2025.
As part of its oversight activities, the SEC appoints and removes the five PCAOB members and approves its yearly budget and changes to its standards and rules.
Ho was one of four new PCAOB members whom then-SEC Chair Gary Gensler appointed in November 2021 along with Chair Erica Williams, Kara Stein, and Anthony Thompson. Ho’s first term expired on October 24, 2025.
Her planned departure is somewhat ironic as her regulatory philosophy often clashed with Gensler’s but aligned with that of the current chair of the SEC, Paul Atkins, who has emphasized efforts to promote capital formation, industry innovation, and the elimination of undue regulatory burdens.
During her tenure, Ho frequently criticized the PCAOB, particularly targeting Williams’ leadership, during public speeches or the board’s open meeting to propose or adopt new standards or budget. Williams and Ho held drastically different views about the PCAOB’s approach to regulating auditors.
For example, in remarks before auditors of smaller companies in March, Ho gave the board a low grade “because it has lost its focus in multiple respects.” Her views were not surprising as she has been a critic of the current board’s ambitious standard-setting and aggressive enforcement activities during Williams’ tenure. She felt that some of the rules or standards adopted would not improve audit quality while increasing costs. Ho also criticized the PCAOB for lagging behind by being slow to act on emerging technologies, such as artificial intelligence (AI).
Thus, many experts speculated that Ho would be named acting chair of the PCAOB after Atkins pushed Williams out in July. He instead tapped George Botic, who became a board member in October 2023 to succeed Duane DesParte, to take the helm as the interim chief of the PCAOB.
A Loss for PCAOB
Now with the news that she will be leaving the PCAOB, Richard Chambers, senior adviser for risk and audit at AuditBoard, said it will be a loss for the audit regulator.
“I have admired her independent spirit,” said Chambers who previously served as president and chief executive officer of the Institute of Internal Auditors. “She seems to have brought a more independent or objective mindset to the role than perhaps many of her predecessors have…. From that standpoint, it’s going to be unfortunate to lose her.”
In his view, Ho took “a very reasoned approach to each proposal” unlike her colleagues who went along with what Chair Williams wanted. And the auditing profession was alarmed at the board’s aggressive standard-setting, enforcement, and standard-setting activities, which they believe were counterproductive.
“This group think that often takes hold in boards like that where you know something makes it to the board, [and] everybody just naturally votes in favor,” Chambers said. Ho “took every issue and every topic and gave it a very reasoned assessment. So, you know, from that standpoint, I think it’s unfortunate for the investor community to lose someone like her who brings a very independent and reasoned approach to their role.”
While he does not know what motivated Ho not to seek a second term, Chambers pointed to the recent tradition of replacing all board members whenever the SEC has a new chair. Besides, Atkins in July said that he would seek nominations for all board members.
Chambers speculated that Ho probably felt that she had done what she could do at the PCAOB, did not want to let someone else replace her, and chose to make the decision for herself.
It appears that other current members have applied to try to stay on at the PCAOB.
In a statement, Ho said she takes pride in her contributions, “particularly in serving as a credible lone dissenter who was able to prevent the adoption of some potentially harmful standards and rules, and my leadership in formulating strategic recommendations about emerging technologies such as artificial intelligence through the work of the PCAOB’s Technology Innovation Alliance Working Group.”
“However, I believe that now is the time to make way for a new Board to bring fresh and forward-looking leadership to the PCAOB,” she said.
