|Washington, DC, May 1, 2014|
The Public Company Accounting Oversight Board is soliciting nominations for its Standing Advisory Group (SAG) for the 2015-2017 three-year term. The deadline for submissions is June 30, 2014.
The Board is seeking nominations of individuals who have expertise in accounting, auditing, corporate finance, corporate governance, and/or investing in public companies. Additionally, the Board is seeking nominations of individuals with experience in auditing or financial reporting as related to broker-dealers and smaller public companies.
"The Board's standard-setting agenda is determined by several considerations, including consultation with the SAG," said Martin F. Baumann, PCAOB Chief Auditor and SAG Chairman. "We have a number of projects underway to help improve the relevance and reliability of audits, and the quality feedback we receive from SAG members is an important part of the process."
The SAG provides input and advice to the PCAOB on a wide range of topics regarding its standard-setting agenda and related activities. Recent examples of topics include the auditor's approach to detecting fraud, potential changes to the auditor's report, and the development of audit quality indicators.
The SAG currently has 42 members, including investors, auditors, public company executives, and others. In 2014, 14 members' terms are expiring. Nominations, including self-nominations, are sought annually, and may be submitted by any person or organization. The nomination forms are available at the links below.
Appointments will be announced in December, and the new terms begin in January 2015. Membership in the advisory group is personal to the member, and the duties and responsibilities cannot be delegated to others. In addition, members are subject to certain sections of the Board's Ethics Code, as provided in the PCAOB Rule 3700, Advisory Groups.
The SAG meets two to three times per year in Washington, DC. SAG members serve without remuneration, but are eligible for reimbursement of actual out-of-pocket expenses incurred in connection with SAG activities, provided that those expenses comply with PCAOB policies.
Additional information about the SAG is available on the Standing Advisory Group page of the PCAOB website.