As Chief Accountant, Mr. Teotia will serve as the principal advisor to the Commission on accounting and auditing matters, and will lead the 45 dedicated staff in the Commission’s Office of the Chief Accountant. He also will be responsible for assisting the Commission with discharging its oversight of the Financial Accounting Standards Board and the Public Company Accounting Oversight Board.
“In his role as acting Chief Accountant, Sagar has skillfully continued the exceptional leadership of the office and clearly has the support of his colleagues,” said SEC Chairman Jay Clayton. “I am pleased he will continue to promote the importance of effective financial reporting and auditing both domestically and internationally.”
“I am honored and excited about the opportunity to serve as the SEC’s Chief Accountant and to continue to work for the benefit of investors across the country. It is a privilege to lead the exceptional staff of the Office of the Chief Accountant and to work together with the different participants in financial reporting, both domestically and internationally,” said Mr. Teotia. “I look forward to continuing to promote improvements in financial reporting and to ensure investors continue to receive high-quality financial information.”
Mr. Teotia has served as Deputy Chief Accountant, leading the accounting group since 2017, and more recently was serving as the SEC’s Acting Chief Accountant. Mr. Teotia started his career at the SEC as a professional accounting fellow in the Office of the Chief Accountant from 2009 to 2011. He rejoined the SEC in 2017 from Deloitte LLP, where he was a partner in the firm’s national office responsible for providing consultation regarding accounting matters. Mr. Teotia received a B.S. in accountancy from the University of Illinois at Urbana-Champaign.
The Commission’s Office of the Chief Accountant is responsible for establishing and enforcing accounting and auditing policy as well as improving the professional performance of public company auditors. The office works to enhance the transparency and relevancy of financial reporting and ensure that financial statements are presented fairly and have credibility for the benefit of all investors.