Washington, D.C., March 29, 2007 – The Securities and Exchange Commission announced today that Carol A. Stacey, Chief Accountant in the Division of Corporation Finance, will leave the Commission after 11 years on the Commission’s staff. As the Division’s Chief Accountant since 2002, Ms. Stacey has been the Commission staff member with primary responsibility for applying the Commission’s financial statement requirements to public company filings. In addition to overseeing the financial disclosure of more than 10,000 public companies, she played a key role in implementing the significant Sarbanes-Oxley Act reforms.
“The Commission and the world’s markets have been extremely fortunate to have Carol working on behalf of investors,” said John White, Director of the Division of Corporation Finance. “The Commission and the accounting profession have benefited greatly from her unique ability to resolve a wide range of policy issues and everyday questions in ways that are both effective and reasonable. She has been a true colleague and a trusted advisor and we will miss her.”
Ms. Stacey said, “Serving investors in our markets has been an honor and a privilege. I have had the pleasure of working with the most dedicated, knowledgeable, and enthusiastic professionals I have ever known and I am proud to have been a member of the Division of Corporation Finance.”
Prior to joining the SEC in 1996, Ms. Stacey received her M.S. in Accounting from Virginia Tech. Ms. Stacey spent a number of years as an auditor with PricewaterhouseCoopers and she held various financial reporting positions with an SEC registrant. Ms Stacey received her B.S. in Accounting from Bentley College.
Ms. Stacey has accepted a position as Vice President at the SEC Institute, Inc., an organization engaged in providing continuing education seminars and conferences. She will focus on helping public companies and their advisors in the U.S. and abroad stay up-to-date on SEC requirements and key developments in accounting and financial reporting.