Today, the PCAOB announced the departure of another long-serving senior manager, Deputy General Counsel Michael Stevenson. Mr. Stevenson joined the PCAOB in 2003 in the first year of the organization and became Deputy General Counsel in March 2007. During his time at the PCAOB, Mr. Stevenson was one of the foremost experts on PCAOB rules, standards, and disciplinary orders. He developed many of the Board’s foundational rules. Mr. Stevenson’s departure follows the departure of several directors of PCAOB divisions and offices in May. Many of the current heads of these units are classified as “Acting,” and last week, the PCAOB posted job announcements for its two divisions (Inspections and Enforcement) and many of its offices (i.e., General Counsel, Chief Auditor, Director of Office of Economic Risk & Analysis, Chief Financial Officer, Chief Technology Officer). It appears that further significant changes are in the offing, particularly the hiring of a new slate of senior managers. This will undoubtedly result in some policy changes in 2019.
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