UT’s Carcello Named to PCAOB Inaugural Investor Advisory Group

 

KNOXVILLE — The Public Company Accounting Oversight Board (PCAOB) has named University of Tennessee, Knoxville, Professor Joseph Carcello one of the 19 members of its inaugural Investor Advisory Group. He is the only academic appointed to the board.

Carcello is the Ernst & Young Professor in the Department of Accounting and Information Management in UT’s College of Business Administration. He also is director of research of UT’s Corporate Governance Center.

The purpose of the advisory group is to provide a forum for the PCAOB to obtain the views of, and advice from, the broader investor community on matters affecting investors and the work of the board.

“Since its inception, the PCAOB has benefited from the views of the investor community. With the establishment of the Investor Advisory Group, the board will now have the opportunity to hear from investors on a regular basis,” said Daniel L. Goelzer, acting PCAOB chairman.

Carcello brings extensive credentials to the Investor Advisory Group. He serves on PCAOB’s Standing Advisory Group, the highly influential group that helps establish auditing and professional practice standards for all public companies in the U.S. He has published more than 50 articles in academic and professional journals on audit committee performance, financial fraud, going-concern reporting and audit quality.

He has testified before a U.S. Treasury Department committee on the future of the auditing profession and has served the U.S. Securities and Exchange Commission as an expert witness. He received Beta Alpha Psi’s Business Professional of the Year Award in 2008 and received the UT National Alumni Association Outstanding Teacher Award in 2009.

Carcello was named by Business Finance magazine as one of the most influential individuals in accounting and finance for four consecutive years (2004-07), the only academic to be so recognized, and has been named by Business Week as a “prominent faculty” in its ranking of undergraduate business programs.

In addition to Carcello, the inaugural members of Investor Advisory Group are:

  • Brandon Becker, executive vice president and chief legal officer, TIAA-CREF
  • Kelvin M. Blake, investment adviser/broker-dealer unit chief and assistant attorney general, Maryland Division of Securities
  • Richard C. Ferlauto, director of corporate governance and pension investment, American Federation of State, County and Municipal Employees (AFSCME)
  • Norman J. Harrison (IAG Chair), senior managing director, Richard C. Breeden & Co., and managing director and chief compliance officer, BCM
  • Michael J. Head, managing director of corporate audit, TD AMERITRADE Holding Corp.
  • Bonnie Hill, president, B. Hill Enterprises LLC, and co-founder and chief operating officer, Icon Blue Inc.
  • Peter H. Nachtwey, managing director and chief financial officer, The Carlyle Group
  • Barbara L. Roper, director of investor protection, Consumer Federation of America (CFA)
  • George U. Sauter, chief investment officer and managing director, The Vanguard Group Inc.
  • Damon Silvers, associate general counsel, AFL-CIO
  • Anne Simpson, senior portfolio manager, global equity, California Public Employees’ Retirement System (CalPERS)
  • Tony Sondhi, president, A.C. Sondhi & Associates LLC
  • Judge Stanley Sporkin, U.S. District Court (retired)
  • Robert M. Tarola, president, Right Advisory LLC
  • Lynn Turner, senior adviser and managing director, LECG
  • Eric Vincent, president and chief operating officer, Ospraie Management LLC
  • Meredith Williams, executive director, Colorado Public Employees Retirement Association (PERA)
  • Ann Yerger, executive director, Council of Institutional Investors (CII)

C O N T A C T :

Amy Blakely, (865-974-5034, ablakely@tennessee.edu)

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