Steven Richards To Join Chairman Doty's Office at PCAOB

Washington, D.C., Feb. 3, 2011

The Public Company Accounting Oversight Board announced today that Steven Richards will join the Board as Special Adviser to Chairman James R. Doty at the end of March.

"The PCAOB and the investors we serve will benefit from the creative thinking and perspective that Steve Richards brings to audit oversight," said Chairman Doty. "His experience in both government and the private sector has earned the high regard of his colleagues and will make him an important addition to my office and to the Board."

Mr. Richards served at the Securities and Exchange Commission as Assistant Chief Accountant in the Division of Enforcement 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.

He joins the Board from the Washington, D.C., office of FTI Consulting, Inc., where he was a Managing Director in the Forensic and Litigation Consulting segment. He assisted boards, special committees and trustees with complex, fact-finding accounting investigations, most involving SEC enforcement and financial reporting issues. Most recently, he was a key member of the forensic investigations team retained by the Trustee on the Bernard L. Madoff matter.

"I am excited and look forward to working with Chairman Doty and the talented staff of the PCAOB," said Mr. Richards.

Mr. Richards joins the Office of the Chairman with Samantha Ross, Special Counsel to the Chairman.