PCAOB Solicits Nominations for Standing Advisory Group

The Public Company Accounting Oversight Board is soliciting nominations for the 2016-2018 term for its Standing Advisory Group, which advises the PCAOB on its standard-setting agenda and related activities.

The deadline for submissions is August 21, 2015.

The Board will solicit nominations for the 2015-2018 term for the Investor Advisory Group later this year.

Nominees for the three-year Standing Advisory Group term should have expertise in accounting, auditing, corporate finance, corporate governance, or investing in public companies. Additionally, the Board is seeking nominees with experience in auditing or financial reporting for broker-dealers and smaller public companies.

"The PCAOB relies on the SAG to provide a broad range of opinions and expertise about matters under consideration for rulemaking," said Martin F. Baumann, PCAOB Chief Auditor and Director of Professional Standards, and SAG Chairman. "We have a number of projects underway to strengthen PCAOB auditing standards and help improve the relevance and reliability of audits, and the quality input we receive from SAG members is integral to the process."

Recent examples of topics include the auditing of fair value measurements and estimates, financial reporting fraud, and the development of audit quality indicators.

The SAG currently has 42 members, and 11 members' terms are expiring this year.

Nominations, including self-nominations, are sought annually, and may be submitted by any person or organization. The nomination forms are available at the links below.

Appointments will be announced in December, and the new terms begin in January 2016.

Membership in the advisory group is personal to the member, and the duties and responsibilities cannot be delegated to others. In addition, members are subject to certain sections of the Board's Ethics Code, as provided in the PCAOB Rule 3700, Advisory Groups.

The SAG meets two to three times per year in Washington. SAG members serve without remuneration, but are eligible for reimbursement of actual out-of-pocket expenses incurred in connection with SAG activities, provided that those expenses comply with PCAOB policies.

Additional information about the SAG is available on the PCAOB website.