Sagar Teotia to Part Ways with SEC after 6 Years

The U.S. Securities and Exchange Commission (SEC) announced that its Chief Accountant Sagar Teotia plans to leave the commission by the end of February after nearly 6 years of total public service.

Teotia was appointed as the SEC's Chief Accountant in 2019. Prior to that, he held the position of Deputy Chief Accountant. He also initially served as a professional accounting fellow in the SEC's Office of the Chief Accountant (OCA).

In his role of the SEC's Chief Accountant, Teotia acts as the principal advisor to the agency on accounting and auditing matters and leads the commission's OCA. OCA collaborates with private-sector accounting and auditing standard-setting bodies in the U.S. and accross the world, and seeks advices from registrants, auditors, and other Commission staff in relation to the application of accounting standards, auditing standards, and financial disclosure requirements.  

Additionally, as Chief Accountant, Mr. Teotia also assists the Commission in overseeing the Financial Accounting Standards Board (FASB) and the Public Company Accounting Oversight Board (PCAOB). 

Beginning in July 2019, Teotia has taken the role of Co-Chair of the Monitoring Group, which consists of international financial institutions and regulatory bodies that focus on advancing the public interest in international auditing matters. 

"I greatly appreciate Sagar's strong and accomplished leadership of OCA, including leading the office during the challenging COVID-19 environment," said Acting SEC Chairman Elad Roisman. "Sagar's judgment and expertise – developed with significant credibility and experience in both the public and private sectors – has been critical in allowing the Commission and OCA to advance a number of very consequential improvements to financial reporting and the auditing standards."