Experts to advice PCAOB on standards
The US accountancy watchdog has announced the formation of a group that aims to help the board with standards setting.
The Public Company Accounting Oversight Board said that the group, made up of 30 experts in variuos financial fields, will give its advice to the board on standard-setting priorities and the policy implications of existing and proposed standards.
The group, which the PCAOB hopes will bring a ‘multi-disciplined approach’ to its standards-setting process, will be chaired by the board’s chief auditor Doug Carmichael.
Other members of the group include former Securities and Exchange Commission chief accountant Lynn Turner; Barbara Roper director of investor protection for the Consumer Federation of America and partners from the Big Four.