While the current Alberta auditor general and the Alberta Securities Commission are heading to court to hash out the terms of the audit to which the the ASC must submit, Alberta’s provincial government has appointed a former uditor general as interim chair of the ASC.

The government announced that effective May 8, former provincial auditor general, Peter Valentine, will be appointed as the interim chair of the Alberta Securities Commission. The interim position will continue until the current recruitment of a full-time chair is completed.

“I am pleased that Peter has accepted this interim position and I have complete confidence in his abilities to help the commission emerge from the controversy it is facing while a permanent chair is found,” said Shirley McClellan, deputy premier and Minister of Finance.

In accepting this role Valentine is well aware of the issues and allegations that currently are being associated with the Alberta Securities Commission, the government said in a news release. “I understand there are some very deep wounds that need to be healed within this organization and I will do my very best to assist staff and management through this challenging time,” said Valentine.

Valentine has over 30 years experience with KPMG including responsibilities as partner-in-charge of Professional Practice and a senior audit partner with expertise in the petroleum industry and Canadian securities practice. He served as the provincial auditor general for seven years. He also has held positions as a senior advisor to the Dean of Medicine at the University of Calgary and to the president and CEO of the Calgary Health Region.