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McDonough, Carmichael tapped. (PCAOB News).

The Public Company Accounting Oversight Board is taking shape.

The SEC unanimously selected William J. McDonough as chair of the five-member PCAOB. McDonough had been the president of the Federal Reserve Bank since 1993, after serving 22 years at First National Bank of Chicago.

And the oversight board named Douglas Carmichael, an accounting professor at Baruch College, as its chief auditor. A longtime critic of auditing standards--and the Big Four--Carmichael will serve as primary technical adviser to the board.

A former consultant to the SEC and an expert witness on forensic accounting and independence issues, Carmichael is the author of 26 books on ethics, accounting and auditing.
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Title Annotation:William J. McDonough, chair and Douglas Carmichael. chief auditor; Public Company Accounting Oversight Board
Publication:California CPA
Article Type:Brief Article
Geographic Code:1USA
Date:Jun 1, 2003
Words:107
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