Michael Stevenson Latest to Bid Adieu to the PCAOB

Another one bites the dust. This time it’s Michael Stevenson, longtime Public Company Accounting Oversight Board deputy general counsel.

Stevenson, who joined the PCAOB in 2003, had served as deputy general counsel since March 2007, according to a July 24 PCAOB press release that announced his departure. During that time, Stevenson “provided legal counsel in all areas of the PCAOB’s regulatory responsibilities and supervised the work of other attorneys in the Office of General Counsel,” the PCAOB stated.

Stevenson is also credited with helping to develop many of the PCAOB’s foundational rules, according to the press release:

He played a significant role in advising on all aspects of the PCAOB’s inspection programs, including, among other things, advising on issues relating to international cooperation and leading the successful defense of each of the Board’s negative quality control remediation determinations that were appealed. He advised extensively on enforcement and registration matters, and he also was the principal resource in the Office of General Counsel on auditor independence issues.

Before joining the PCAOB, Stevenson spent eight years at the Securities and Exchange Commission—four years in the Division of Enforcement and four years in the Legal Policy Group of the Office of General Counsel.

Since May, several high-level officials have left the PCAOB, including Martin Baumann, chief auditor and director of professional standards; Helen Munter, director of registration and inspections; and Claudius Modesti, director of the PCAOB’s Division of Enforcement and Investigations.

[PCAOB]

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