Steven Richards Named Senior Advisor to the Director of Enforcement and Investigations

The Public Company Accounting Oversight Board announced today that Steven Richards has been named the Senior Advisor to the Director of the Division of Enforcement and Investigations.

Richards has served as Special Advisor to PCAOB Chairman James R. Doty since March 2011. In that role, Richards advised the Chairman on all matters that came before the Board and worked with the other Board members on the Board's priorities.

"Steve has been an invaluable member of my team," Doty said. "As liaison to the Securities and Exchange Commission, Steve ably represented the PCAOB's initiatives on behalf of investors. Steve is returning to his professional roots in forensic accounting and his new role will put him on the front lines of investor protection as he augments an already robust and effective disciplinary program."

Richards served as an Assistant Chief Accountant in the SEC enforcement division from 2004 to 2008. He was responsible for investigating a variety of high profile matters involving complex technical accounting, financial reporting and disclosure issues, as well as the evaluation of the adequacy of procedures performed by independent auditors.

Immediately prior to joining the PCAOB in 2011, Richards was a Managing Director in the Forensic and Litigation Consulting segment of FTI Consulting Inc., spending much of his time in New York leading a portion of the forensic investigations team retained by the Trustee on the Bernard L. Madoff matter. He also assisted boards, special committees and trustees with complex, fact-finding accounting investigations, most involving SEC enforcement and financial reporting issues.

"Steve's background in forensics makes him an ideal fit for the PCAOB's enforcement activities, and we are very pleased to have him join us," said Claudius Modesti, Director of the PCAOB Division of Enforcement and Investigations. "His work with the SEC will strengthen our long-standing cooperation and collaboration on matters affecting investors."

Richards holds a BA from Washington and Jefferson College. He is a certified public accountant.