A 34 year-old accountant's accountant, Steenkamp is a technical GAAP and Securities and Exchange Commission reporting expert. Corzine appointed him CFO in March to do double-duty, along with his position as the MF Global's Chief Accounting Officer. Given everything that's been going badly inside and outside of MF Global, it sure looks like PwC could have raised doubts about the brokerage's ability to survive the next 12 months, which is the threshold for issuing a "qualified" accounting opinion. I asked Ed Ketz, an accounting professor at Penn State University, if he thinks PwC should have issued such a "going concern" qualification with MF Global's annual financial statements for the year through March 30th. Opined Ketz: "A pattern of losses had developed by 2011 and structural problems apparently could not be fixed or, at least, not fixed on a timely basis. Free cash flow was severely negative in 2009 and 2011. No turnaround was in sight. The business model was suspect and the risks were multiplying.