Altamonte Springs, Fla. (Dec. 23, 2003) — William G. Bishop, who has served as president of the Institute of Internal Auditors since 1992, announced he would retire in September 2004.

Prior to assuming the IIA presidency, Bishop was general auditor for Shearson Lehman Brothers Inc. in New York, where he directed a worldwide group of 90 auditors.  Before joining Shearson in 1986, Bishop was vice president and general auditor of the American Express Co.

He also served as an auditor for Ford Motor Co.

"His contributions to The Institute, and to the profession, are immeasurable," said IIA chairman Bob McDonald in a statement. "Bill is respected worldwide for his leadership during a period of significant change for the profession. Through his personal interaction with IIA members and leaders, professional oversight of IIA Inc.'s staff, and involvement with professional organizations such as COSO, he has made us all proud to be internal auditors."

A replacement search under he auspices of executive search firm Korn Ferry is currently underway,

— WebCPA staff

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