SEC appoints Deloitte's Sagar Teotia as deputy chief accountant

The Securities and Exchange Commission has tapped Deloitte partner Sagar S. Teotia as deputy chief accountant in the SEC's Office of the Chief Accountant.

He will report to SEC chief accountant Wesley Bricker, who succeeded James Schnurr last year after Schnurr was seriously injured in a bicycling accident (see Bricker named SEC chief accountant). Bricker had previously been deputy chief accountant.

SEC building with official seal
The Securities and Exchange Commission stands in Washington, D.C., U.S., on Monday, May 10, 2010. The chief executive officers of the biggest U.S. stock markets were called to a meeting at the U.S.Securities and Exchange to discuss last week’s selloff in equities, according to four people familiar with the situation. Photographer: Joshua Roberts/Bloomberg

As deputy chief accountant, Teotia will be involved in getting perspectives from investors, companies, financial statement preparers and other groups about accounting matters, the application of accounting standards and financial disclosure requirements. He will also help oversee the Financial Accounting Standards Board. Teotia previously served in the Office of the Chief Accountant as a professional accounting fellow from 2009 to 2011, where he was involved in watching the work of FASB and the International Accounting Standards Board.

“I am very pleased that Sagar has agreed to return to the Office of the Chief Accountant to oversee the accounting group,” said SEC Chief Accountant Wesley Bricker in a statement. “Sagar's prior experience as an SEC accounting fellow as well as his expertise and wealth of experience in public accounting will provide critical service to investors, companies and the Commission.”

Teotia has worked for about 18 years at Deloitte. He was based in Deloitte & Touche LLP's National Office Accounting Consultation Group in Chicago, where he became a partner. At Deloitte, he has specialized in regulatory matters, technical accounting, mergers and acquisitions. He also focused on financial instruments, business combinations, and compensation issues, including stock compensation and pension matters. Teotia has worked with both U.S. GAAP and International Financial Reporting Standards. He received an accounting degree from the University of Illinois at Urbana-Champaign and is a licensed CPA in Illinois.

“I am honored to have this opportunity to return to work at the Commission and serve with the talented and highly dedicated team in the Office of the Chief Accountant on behalf of investors,” Teotia said in a statement.

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