PCAOB Announces Standing Advisory Group Members
Also Increases SAG Size and Terms
The Public Company Accounting Oversight Board today announced 28 new and re-appointed members to its Standing Advisory Group (SAG), as the Board expands the size of the advisory group and increases SAG members' terms from two years to three years. This brings the total SAG membership to 42.
"We continue to find our SAG to be an important source of insight and advice and we are enlarging it to give us an even larger pool of experts from which to draw," said PCAOB Chairman James R. Doty. "We want to hear from all the diverse interests who have a stake in the preparation of informative, accurate and independent audit reports."
The SAG includes experts in the fields of accounting, auditing, financial reporting, corporate finance and corporate governance, as well as experts in investing in public companies.
The SAG was established in June 2003 (see PCAOB Release No. 2003-009). The release provided general guidelines for the role, size, and composition of the SAG and established two-year terms for each member.
The Board is increasing the SAG term to three years. The longer term allows the PCAOB to benefit from the insight and advice of the SAG members for a longer period of time and will bring the SAG member terms in line with the terms of its Investor Advisory Group.
"We are grateful that SAG members generously share their valuable time and expertise with us," said Martin F. Baumann, PCAOB Chief Auditor and Director of Professional Standards and SAG Chairman.
"Given our numerous standard-setting initiatives focused on improving audit quality and driving investor protection, we look forward to significant and valuable input from these SAG members," he added.
Initially, individual SAG terms will be staggered to allow a greater continuity of membership. Of the new and reappointed members, 14 members will serve two-year terms, beginning in January 2012, and the remaining 14 members will serve three-year terms, beginning on the same date.
The names of the 2012 SAG members are listed below, including 14 continuing members. Their biographies may be found on the right under "Related Information."
The PCAOB issued a request for SAG nominations in May 2011. The Board received more than 100 applications. The PCAOB solicits nominations and re-nominations annually. Membership in the advisory group is personal to the member, and the duties and responsibilities cannot be delegated to others.
Standing Advisory Group Members
- Steven E. Buller, Managing Director, BlackRock, Inc. (Term: 2012-2014)
- J. Michael Cook, public company board member (Term: 2012-2014)
- Jerry M. de St. Paer, Executive Chairman, GNAIE-Group of North American Insurance Enterprises (Term: 2012-2014)
- Paul L. Gillis, Visiting Professor of Accounting, Guanghua School of Management, Peking University; public company board member (Term: 2012-2013)
- Robert L. Guido, public company board member (Term: 2012-2014)
- Robert H. Herz, CEO, Robert H. Herz LLC; Executive-in-Residence, Columbia Business School, Columbia University (Term: 2012-2014)
- Robert B. Hirth, Jr., Executive Vice President, Global Internal Audit and Financial Controls, Protiviti, Inc. (Term: 2012-2013)
- Bruce J. Jorth, Executive Partner, National Office of Risk Management, McGladrey & Pullen, LLP (Term: 2012-2014)
- Robyn S. Kravit, Co-founder and CEO, Tethys Research LLC; public company board member (Term: 2012-2013)
- Richard H. Murray, CEO, Liability Dynamics Consulting, LLC (Term: 2012-2013)
- Jennifer Paquette, Chief Investment Officer, Public Employees' Retirement Association of Colorado (Term: 2012-2014)
- Walter G. Ricciardi, Partner, Paul, Weiss, Rifkind, Wharton & Garrison, LLP (Term: 2012-2014)
- Lisa M. Roth, CEO and Chief Compliance Officer, Keystone Capital Corporation, and President, Monahan & Roth, LLC (Term: 2012-2013)
- Charles V. Senatore, Head of Corporate Compliance, Fidelity Investments (Term: 2012-2013)
- Roman L. Weil, Visiting Professor of Accounting, Taxation, and Law, Stern School of Business, New York University (Term: 2012-2013)
- John L. (Arch) Archambault, Senior Partner, Professional Standards and Global Public Policy, Grant Thornton LLP (Term: 2012-2013)
- Dennis R. Beresford, Ernst & Young Executive Professor of Accounting, Terry College of Business, The University of Georgia; public company board member (Term: 2012- 2013)
- Neri Bukspan, Executive Managing Director, Chief Quality Officer, and Chief Accountant, Credit Market Services, Standard & Poor's Financial Services, LLC (Term: 2012-2013)
- Michael J. Gallagher, Assurance Partner and U.S. Assurance National Office Leader, PwC (Term: 2012-2013)
- Gaylen R. Hansen, Audit Partner and Director of Accounting and Auditing Quality Assurance, Ehrhardt Keefe Steiner & Hottman, PC (Term: 2012-2013)
- Gary R. Kabureck, Vice President and Chief Accounting Officer, Xerox Corporation (Term: 2012-2013)
- Wayne A. Kolins, Partner, BDO USA, LLP; Global Head of Audit and Accounting, BDO International Limited (Term: 2012-2014)
- Jeffrey P. Mahoney, General Counsel, Council of Institutional Investors (Term: 2012-2014)
- Kevin B. Reilly, Americas Vice Chair, Professional Practice and Risk Management, Ernst & Young LLP (Term: 2012-2014)
- Barbara L. Roper, Director of Investor Protection, Consumer Federation of America (Term: 2012-2014)
- Kurt N. Schacht, Managing Director, CFA Institute (Term: 2012-2014)
- Damon A. Silvers, Director of Policy and Special Counsel, AFL-CIO (Term: 2012-2013)
- John W. White, Partner, Corporate Department, Cravath, Swaine & Moore LLP (Term: 2012-2014)
- Joseph V. Carcello, Ernst & Young and Business Alumni Professor, Department of Accounting and Information Management, and Co-founder and Director of Research, Corporate Governance Center, University of Tennessee (Term: 2011-2012)
- James. D. Cox, Brainerd Currie Professor of Law, School of Law, Duke University (Term: 2011-2012)
- Elizabeth S. Gantnier, Director of Quality Control, Stegman & Company (Term: 2011-2012)
- Arnold C. Hanish, Vice President of Finance, Chief Accounting Officer, Eli Lilly & Company (Term: 2011-2012)
- Gail L. Hanson, Senior Vice President and Chief Financial Officer, Aurora Health Care (Term: 2011-2012)
- Stephen J. Homza, Managing Director of Internal Audit, Legg Mason, Inc. (Term: 2011-2012)
- Lisa Lindsley, Director of Capital Strategies, American Federation of State, County, and Municipal Employees (Term: 2011-2012)
- Jamie S. Miller, Vice President, Controller and Chief Accounting Officer, General Electric Company (Term: 2011-2012)
- William T. Platt, Deputy Managing Partner, Professional Practice, and Deputy Chief Quality Officer-Attest, Deloitte & Touche, LLP (Term: 2011-2012)
- Steven B. Rafferty, Professional Practices Partner, BKD, LLP (Term: 2011-2012)
- Samuel J. Ranzilla, Audit Partner and National Managing Partner, Audit Quality and Professional Practice, KPMG LLP (Term: 2011-2012)
- D. Scott Showalter, Professor of Practice, Department of Accounting, Poole College of Management, North Carolina State University (Term: 2011-2012)
- Dan M. Slack, Chief Executive Officer, Fire and Police Pension Association of Colorado (Term: 2011-2012)
- Lynn E. Turner, Managing Director, LitiNomics and former SEC Chief Accountant (Term: 2011-2012)