UT Professor to Testify Before Treasury Committee

KNOXVILLE — A University of Tennessee professor will testify on Monday before the U.S. Treasury Advisory Committee on the auditing profession.

Joseph V. Carcello is the Ernst & Young professor and director of research for the Corporate Governance Center in the College of Business Administration.

Carcello will testify on the human capital challenges facing the public company auditing profession, and will make recommendations for addressing these challenges. Other witnesses will include the CEOs of PricewaterhouseCoopers and Ernst & Young, law professors from Duke and George Washington universities and a managing director from the General Accounting Office.

Carcello will testify at 10 a.m. on Monday, and the Advisory Committee’s meeting will be Web cast at http://www.treasury.gov/offices/domestic-finance/acap/webcasts.shtml.

Carcello will be speaking to an advisory committee established by U.S. Treasury Secretary Henry Paulson to examine the sustainability of a strong and vibrant auditing profession. The committee is co-chaired by Arthur Levitt, a former Securities and Exchange Commission chairman, and Don Nicolaisen, a former SEC chief accountant, and includes among its members Paul Volcker, former chairman of the Federal Reserve; Lynn Turner, another former SEC chief accountant; Anne Mulcahy, the CEO and chairman of Xerox; and Tim Flynn, the CEO and chairman of KPMG, as well as a number of other prominent individuals from the accounting, business, investor and legal communities.

Carcello teaches auditing, corporate governance and financial accounting courses, and is an active researcher in the areas of corporate governance and fraudulent financial reporting. He has been named one of America’s most influential business people by Business Finance magazine and serves on the Public Company Accounting Oversight Board’s Standing Advisory Group.


Contacts:

Cindy Raines, (865) 974-4359, craines1@utk.edu
Amy Blakely, (865) 974-5034, amy.blakely@tennessee.edu