… The envelope please!
Press Release/Source: PCAOB
Washington, DC — The Public Company Accounting Oversight Board today announced new appointments and re-appointments to its Standing Advisory Group for 2006. In May 2005, the Board began soliciting nominations and re-nominations to fill the slots of those whose terms have ended this year. The Board received more than 150 nominations and re-nominations. From this list, the Board selected individuals with expertise in a variety of fields, including accounting, auditing, corporate finance, corporate governance, and investing in public companies.
The new two-year terms will begin in January 2006. Membership in the advisory group is personal to the member, and the duties and responsibilities of the member cannot be delegated to others. The Board will solicit nominations and re-nominations annually. The advisory group also has six observing organizations: the Financial Accounting Standards Board, the Government Accountability Office, the International Auditing and Assurance Standards Board, the Securities and Exchange Commission, Department of Labor, and the AICPA?s Auditing Standards Board. The group is chaired by the Board’s Chief Auditor and Director of Professional Standards, Douglas R. Carmichael, and will meet approximately three times each year.
The members are…
Peter Bridgman
Senior Vice President and Controller, PepsiCo, Inc.
Purchase, New York
Mr. Bridgman has more than 20 years of industry experience at PepsiCo and 12 years of accounting experience at KPMG. At PepsiCo, he is responsible for global internal and external financial reporting, SEC compliance, and U.S. Shared Services transaction processing. He is a Chartered Accountant in the U. K.
Term: 2006-2007
Frank Brod
Corporate Vice President and Controller, The Dow Chemical Company
Midland, Michigan
Mr. Brod is a CPA with over 30 years of financial reporting experience. He is responsible for all of Dow’s global accounting activities including compliance and control, financial reporting, accounting transactional work processes, financial information systems, planning, and financial analysis. Brod is a member of FASB’s Emerging Issues Task Force, IASB’s Standards Advisory Council and the immediate past Chairman of FEI?s Committee on Corporate Reporting.
Term: 2006-2007
Joseph Carcello
Director of Research, Corporate Governance Center, University of Tennessee
Knoxville, Tennessee
Mr. Carcello served as a member of COSO’s Small Business Control Guidance Advisory Group Task Force. He also coauthored the COSO-sponsored study on fraudulent financial reporting in the U.S. between 1987 and 1997. Carcello has performed extensive research on corporate governance (primarily on audit committees) and on fraudulent financial reporting for the past 10 years.
Term: 2006-2007
Donald H. Chapin
Financial Management Consultant
Rye, New York
Mr. Chapin consults on auditing and accounting issues. Most recently, he has consulted on those issues with respect to Enron and Tyco and on auditor performance in several other cases. He was Assistant Comptroller General for Accounting and Information Management at the Government Accountability Office and a practicing and technical partner of Arthur Young.
Term: 2004-2006
Vincent P. Colman
Assurance Partner and U.S. National Office Professional Practice Leader, PricewaterhouseCoopers LLP
Florham Park, New Jersey
Mr. Colman is a practicing CPA with more than 20 years of public accounting experience and is currently the U.S. national office professional practice leader. In his current role at PricewaterhouseCoopers LLP, Mr. Colman has overall responsibility for formulating the firm?s positions on technical accounting, auditing and SEC reporting matters, developing the firm?s audit policies and methodology and providing technical accounting and auditing guidance to the firm?s audit professionals. His previous experiences have included serving as the engagement partner on major U.S. corporations as well as mid-sized public and private companies.
Term: 2006-2007
Cynthia Cooper
President, Cynthia Cooper Consulting, LLC
Brandon, Mississippi
As head of the internal audit department for WorldCom, Ms. Cooper and her team were responsible for uncovering, and more importantly, reporting the fraud that ultimately led to SOX legislation and the creation of the PCAOB.
Term: 2006-2007
Nick S. Cyprus
Senior Vice President, Controller and Chief Accounting Officer, The Interpublic Group of Companies
New York, New York
Mr. Cyprus has more than 25 years of accounting and finance experience. He has been in his current assignment since May of 2004. Prior to that, he was the Vice President, Controller and Chief Accounting Officer for AT&T. Mr. Cyprus is a CPA and has his MBA from NYU’s Stern School of Business. In addition, Mr. Cyprus is on the Executive Committee of Financial Executives International?s Committee on Corporate Reporting. Mr. Cyprus is also a board member of the Committee of Sponsoring Organizations (COSO).
Term: 2004-2006
Leroy Dennis
Executive Partner of Assurance Services, McGladrey & Pullen, LLP
Bloomington, Minnesota
Mr. Dennis has more than 27 years experience in public accounting. In his current capacity, he leads a team of professionals in the National office and is responsible for setting audit policy, designing education courses, office inspections, independence and other duties including final determination of accounting and auditing matters as it relates to clients.
Term: 2006-2007
Gerald A. Edwards, Jr.
Senior Advisor on Accounting and Auditing Policy
Financial Stability Forum
Bank for International Settlements
Basel, Switzerland
Prior to accepting this position with the Financial Stability Forum, with a dual senior advisory role with the Basel Committee on Banking Supervision, he was Associate Director and Chief Accountant of the U.S. Federal Reserve Board’s Division of Banking Supervision and Regulation in Washington, DC. He has over 26 years experience with the Federal Reserve Board. He is a CPA and is a member of the Consultative Advisory Group of the IAASB and the international Monitoring Group of regulators that has been working with IFAC to implement comprehensive reforms of its international audit standards setting activities. Moreover, he has been a member of the IASB’s Standards Advisory Council.
Term: 2004-2006
Randy G. Fletchall
Americas Vice Chair of Professional Practice and Risk Management, Member of Americas Executive Board, Ernst & Young
New York, New York
Mr. Fletchall has 28 years of experience as a CPA. His current responsibilities include national office accounting, auditing, SEC reporting, quality control and risk management functions.
Term: 2006-2007
Kimberly Gavaletz
Vice President, Corporate Internal Audit, Lockheed Martin
Bethesda, Maryland
Kimberly Gavaletz has more than 23 years of business experience. As the vice president, corporate internal audit for Lockheed Martin, Ms. Gavaletz provides independent assessments of governance, internal controls and risk management at corporate wide, business area, program and major system levels across Lockheed Martin.
Term: 2006-2007
Arnold C. Hanish
Chief Accounting Officer, Eli Lilly and Company
Indianapolis, Indiana
Mr. Hanish has more than 30 years of experience as a CPA, including almost 14 years with Arthur Young & Company. As chief accounting officer for Eli Lilly and Company, he is responsible for global accounting, including Sarbanes-Oxley compliance, and SEC reporting processes as well as the U.S. payroll, shareholder and stock option services, business partner support for corporate staff functions, and consulting services on business development activities including acquisition and divestiture of compounds and M&A activity.
Term: 2004-2006
Gaylen R. Hansen
Partner, Gordon, Hughes & Banks, LLP
Evergreen, Colorado
Mr. Hansen has more than 30 years of public accounting auditing experience with a special emphasis on smaller companies, initial public offerings, reverse mergers, leveraged buy-outs, venture capital and other alternative financing structures. He is also accredited in business valuation. Mr. Hansen is the current president of the Colorado State Board of Accountancy, and a member of the Board of Directors of the National Association of State Boards of Accountancy. He is also a member of the AICPA?s Professional Ethics Executive Committee.
Term: 2006-2007
Richard H. Koppes
Of Counsel, Jones Day
Co-Director, Executive Education Programs and Coordinator, Institutional Investors’ Forum, Stanford Law School
Sacramento, California
Mr. Koppes is an attorney with more than 30 years experience in corporate governance and audit functions. Before joining Jones Day and Stanford University, he was a principal at American Partners Capital Group and deputy executive office and general counsel for the California Public Employees? Retirement System. Mr. Koppes sits on the Audit Committee of Valeant Pharm.
Term: 2004-2006
John Krimmel
Chief Investment Officer, Kentucky Retirement Systems
Frankfort, Kentucky
Mr. Krimmel has more than 15 years of investment and accounting experience. Currently, as Chief Investment Officer for the Kentucky Retirement Systems, Mr. Krimmel is responsible for managing all facets of the System’s $14 billion investment program.
Term: 2006-2007
Robert J. Kueppers
Deputy CEO, Deloitte & Touche USA LLP
Wilton, Connecticut
Mr. Kueppers has more than 27 years of experience in the accounting profession. In his current capacity as Deputy CEO of Deloitte & Touche USA LLP he works closely with the CEO of Deloitte & Touche USA LLP and provides direction for Ethics & Compliance processes, as well as Regulatory & Public Policy matters. He is also a Vice Chairman of Deloitte & Touche USA LLP.
Term: 2004-2006
Wanda Lorenz
Partner, Lane Gorman Trubitt LLP
Dallas, Texas
Ms. Lorenz has been a CPA since 1971. She is currently the partner in charge of litigation services which involve forensic accounting and fraud investigation. She also provides litigation support on cases involving Generally Accepted Auditing Standards and Generally Accepted Accounting Principles. She is a member of the AICPA’s Auditing Standards Board.
Term: 2004-2006
Rebecca McEnally, CFA
Director, Capital Markets Policy Group, CFA Institute Center for Financial Market Integrity
Charlottesville, Virginia
Ms. McEnally has more than two decades of experience with both teaching and tracking auditing and accounting standards, both as an academic and as head of the corporate reporting area for the CFA Centre for Financial Market Integrity. She also has significant background in corporate governance, corporate finance, and investment matters.
Term: 2006-2007
John M. Morrissey
Operating Controller, General Electric Corporation
Fairfield, Connecticut
Mr. Morrissey has more than 25 years of diversified accounting and auditing experience. Currently, he is the Operating Controller of GE, with responsibilities covering Sarbanes-Oxley compliance, SEC reporting and GAAP compliance. Prior to joining GE, Mr. Morrissey held the position of Deputy Chief Accountant at the Securities and Exchange Commission, Vice President at Transamerica Corporation, and Audit Partner for Coopers & Lybrand.
Term: 2004-2006
Craig Omtvedt
Senior Vice President and Chief Financial Officer, Fortune Brands, Inc.
Lincolnshire, Illinois
Mr. Omtvedt has more than 30 years of strategic and general business management and corporate governance experience. As Senior Vice President and Chief Financial Officer of Fortune Brands, Mr. Omtvedt oversees the company’s treasury, real estate, insurance, accounting and financial reporting, tax, internal audit, public affairs, and investor relations functions.
Term: 2006-2007
Samuel J. Ranzilla
Audit Partner, Partner-in-charge of Department of Professional Practice, KPMG
New York, New York
In his current role, Mr. Ranzilla is responsible for his firm’s positions on auditing and related professional practice standards, accounting and independence standards; development of guidance for the firm?s audit professionals; positions on SEC rulemakings and related accounting, disclosure and independence standards affecting registered public accounting firms; and liaison with standard setters and professional organizations.
Term: 2004-2006
Cynthia Richson
Corporate Governance Officer, Ohio Public Employees Retirement System
Columbus, Ohio
Ms. Richson is responsible for developing and overseeing all aspects of the corporate governance program at OPERS, the 10th largest state pension fund in the U.S. She has more than 20 years of broad business and legal experience and previously held a similar position with the State of Wisconsin Investment Board.
Term: 2004-2006
Barbara Roper
Director of Investor Protection, Consumer Federation of America
Pueblo, Colorado
As a leading consumer advocate on investor protection issues for the past 17 years, Ms. Roper has had extensive experience in analyzing regulatory and legislative initiatives to determine whether they are likely to benefit investors and how they can be improved to do so more effectively.
Term: 2004-2006
Linda Scott
Director, Corporate Governance, TIAA-CREF
New York, New York
Ms. Scott has more than 12 years of experience in executive compensation, shareholder rights and corporate accountability. As Director of Corporate Governance, Ms. Scott is responsible for the development of shareholder initiatives, including the review of governance structures and practices of portfolio companies. She also manages the proxy voting staff, reviews corporate governance legislative and regulatory developments, and prepares TIAA-CREF’s response on the issue of expensing of stock options.
Term: 2006-2007
Lee J. Seidler
Retired, General Partner and Senior Managing Director, Bear, Stearns & Co.
Sanibel, Florida
Mr. Seidler has more than 40 years experience as a professor, financial analyst and CPA. He was a Price Waterhouse Professor of Auditing at New York University. Most recently, he was a general partner and senior managing director performing financial analysis of the impacts of accounting and financial reporting and taxes on the decisions of investors and on corporate finance transactions.
Term: 2004-2006
David L. Shedlarz
Vice Chairman, Pfizer Inc.
New York, New York
Mr. Shedlarz serves as a member of the Pfizer Executive Committee which is the company?s most senior decision-making team, responsible for vision, strategic direction and operations of the company. This team reviews and approves all major management, operating and financial decisions. This committee has direct control over, and accountability for, the performance of nearly all Pfizer operating and support groups.
Term: 2006-2007
Damon Silvers
Associate General Counsel, AFL-CIO
Washington, DC
Mr. Silvers’ responsibilities include corporate governance, pension and general business law issues. He led the AFL-CIO legal team that won severance payments for laid off Enron and WorldCom workers. He also testified before numerous congressional committees on issues arising out of the collapse of Enron.
Term: 2006-2007
Martin Singer
Chairman and Chief Executive Officer, PCTEL Inc.
Chicago, Illinois
Dr. Singer has 25 years of experience in the telecommunications industry and has managed two publicly held companies. As Chairman and CEO he recently took PCTEL through the implementation of SOX compliance and is active in the company’s Compensation and Corporate Governance Committees. He has extensive experience in mergers and acquisitions and in IP licensing.
Term: 2006-2007
Shelley S. Stein
Chief Operating Officer, Grant Thornton LLP
Weston, Florida
Ms. Stein has held positions of increasing importance during her 28-year career with Grant Thornton LLP. She has worked in a variety of offices and has been involved with the more significant audit engagements in each of those offices. In addition to her extensive audit background, she has held numerous management positions within the firm. Currently she is responsible for a number of strategic and operational priorities of the firm.
Term: 2004-2006
Lynn Turner
Managing Director of Research, Glass Lewis
Broomfield, Colorado
Mr. Turner has the unique experience of having been a partner in an international accounting firm, a chief financial officer and executive in the industry, and the chief accountant of the Securities and Exchange Commission. He is currently managing director of research at Glass Lewis, serves as a senior adviser to Kroll, Inc., a forensic accounting firm, and is on the board of directors of a mutual fund.
Term: 2004-2006
John White
Partner, Cravath, Swaine & Moore LLP
New York, New York
Mr. White is a corporate lawyer with more than 30 years of experience. Currently, he is involved in leading the securities practice at Cravath. In this capacity, he counsels and advises companies regarding their disclosure and other obligations under the federal securities laws, and represents issuers and underwriters in securities offerings of various types.
Term: 2006-2007
Ted White, CFA
Deputy Director, Council of Institutional Investors
Shingle Springs, California
Mr. White has experience as an active investment manager with oversight of approximately $3 billion in active governance style strategies. As Deputy Director with the Council of Institutional Investors, Mr. White is responsible for policy development and implementation.
Term: 2006-2007