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PCAOB Names C. Gregory Scates Deputy Chief Auditor

The Public Company Accounting Oversight Board announced today that C. Gregory Scates has been named Deputy Chief Auditor, reporting to Tom Ray, PCAOB Chief Auditor and Director of Professional Standards.

"Greg has been a key member of our team since joining the PCAOB in June 2003," Mr. Ray said. "He is an accomplished professional and has clearly demonstrated the skills needed to fill the role of Deputy Chief Auditor. I am delighted he is willing to take on the additional responsibilities."

Mr. Scates, 53, played a substantial role in developing PCAOB Auditing Standard Nos. 1 and 3, which deal with reporting on audits in accordance with the standards of the PCAOB and audit documentation. He also has developed staff guidance on technical auditing matters and led various current standards-setting projects.

As Deputy Chief Auditor, Mr. Scates will provide technical direction in the development of the Board's standards; he also will assist in managing the activities of the Office of the Chief Auditor and ensuring that the PCAOB standards are appropriately communicated to public-company auditors and other interested parties. Prior to joining the PCAOB, Mr. Scates was Associate Chief Accountant in the Division of Enforcement at the Securities and Exchange Commission. He began his career in public accounting.

The Office of the Chief Auditor advises the Board on the establishment of auditing and related professional practice standards and on the application of auditing and accounting standards related to the financial statements and internal control over financial reporting of U.S. public companies. The Chief Auditor and his staff also work with other relevant organizations, including the Securities and Exchange Commission, the Financial Accounting Standards Board, the U.S. Government Accountability Office, the American Institute of Certified Public Accountants, and the International Federation of Accountants.