Washington (April 18, 2003) — The Public Company Accounting Oversight Board named Baruch accounting professor and top auditing expert Douglas Carmichael, Ph.D., CPA, as chief auditor and director of professional standards for the oversight body.

Carmichael, 61, acclaimed as one the country’s top authorities on auditing and an outspoken critic of current accounting standards, will function as an advisor to the board’s standard-setting process and in other issues related to accounting.

“I’m passionate about auditing standards and this was a great opportunity,” Carmichael, told WebCPA. “There’s quite a bit to be done. Certainly auditing standards haven’t been the only problem but auditor performance as well.”

Carmichael, who hopes to begin his new post in May, said that he has requested a leave from Baruch College where he serves as director of the Center for Financial Integrity and is a Wollman Distinguished Professor of Accounting.

“The PCAOB should be commended for making such an excellent choice in perhaps their most critical senior staff position they have.  Clearly the PCAOB is taking steps that will engender investor confidence in their leadership with this selection,” said Lynn Turner, former SEC chief accountant on Carmichael’s appointment.

--Bill Carlino

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