"I am fiercely independent," he added. "I am beholden to no one. At no time has any member of the accounting industry, any member of any administration or any member of the Republican party sought to influence my judgment. No one."
Some Republicans on Friday praised Pitt and the commission's selection of Webster.
"The commission has achieved what was envisioned in the law, a balanced, independent, and moderate board comprised of knowledgeable and experienced members," Oxley said.
The selection was also endorsed by some members of the accounting profession.
"It looks like we have an outstanding group of individuals that can lead the board and move the profession in the direction that it needs to go in," said Ed Nusbaum, chief executive of Grant Thornton, one of the largest accounting firms ranked in size just below the Big Four. "I think they'll restore the public trust, which is critical."
But that view was disputed by some leading figures on Wall Street, who had actively campaigned for Biggs. "I have tears in my eyes," said John Bogle, founder and former chairman of the Vanguard Group, who supported Biggs. "I just don't see how this can give the markets any reassurance. It's just more of the same old political stuff."
Bogle said that investors are probably so cynical that they could not be disappointed further.
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