DES MOINES, Iowa -- Auditor David Vaudt announced Thursday he is resigning to take over duties as the new chairman of the Governmental Accounting Standards Board (GASB).
Vaudt, who served as Iowa's state auditor since January 2003, recently was elected to the post.
Gov. Terry Branstad praised Vaudt as a "dedicated public servant for the taxpayers of Iowa, and we will miss his incredible work as steward of our tax dollars.
Vaudt, he said, "embodied the principles of good budgeting, including not spending more than we take in, and avoiding the use of one-time money for ongoing expenses."
Branstad, who will appoint a successor, said the search for Vaudt's replacement will begin immediately.
According to Iowa Code Chapter 69, when there is a vacancy in the office of auditor, the governor has the duty to fill the office by appointment.
Until an auditor is appointed by the governor, the governor is responsible for maintaining the office and its records in the interim.
The person appointed by the governor will serve through the end of the current unexpired term.
The next election for auditor will occur during the next regularly scheduled election in 2014.
The salary of the auditor is fixed by the General Assembly.
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Vaudt Stepping Down As State Auditor