Audit Standards in Transition: An Interview with PCAOB Chief Auditor Douglas R. Carmichael

Standards Setting: A Privilege with Responsibilities

By Robert H. Colson

Douglas R. Carmichael, PhD, CPA, CFE, was appointed the first chief auditor and director of professional standards for the Public Company Accounting Oversight Board (PCAOB) in April 2003. Carmichael spent the previous 20 years at Baruch College, City University of New York, where he was the director of the Center for Financial Integrity and the Wollman Distinguished Professor of Accountancy. Before joining the faculty at Baruch, he was vice president for auditing at the AICPA. Many CPAs are familiar with the numerous books and articles Carmichael has written about accounting professional and technical matters. In addition, Carmichael is a noted expert on accounting and auditing issues. Carmichael grew up near Chicago and received his PhD from the University of Illinois in 1968. Full Story

Publisher's Column

Current SEC and PCAOB Developments

The AICPA’s annual national conference on current SEC developments held December 10–12, 2003, in Washington, D.C., was attended by over 2,000 participants from accounting firms, private industry, and government Representatives from the SEC, Public Company Accounting Oversight Board (PCAOB), FASB, International Accounting Standards Board (IASB), and AICPA provided insight on many topics. Full Story

Doing the Right Things

The recent occurrences within the Long Island school system have been sad to watch. In the wake of reports of improper spending, and possibly corruption, two large, wealthy school districts will undergo in-depth audits, and New York State Comptroller Alan Hevesi plans audits of 21 other local school districts. Most of the recent accounting scandals have focused on public companies, but accountability in the government and nonprofit sectors is even more important, because they touch everyone, not only investors. Full Story

Audit Contracting Entities: Organizations That Might Change Everything

A new type of organization might change everything about auditing: what auditors do and how they do it, even how they see themselves as auditors. It would accomplish that by tearing down the management wall separating auditors from the public they are supposed to serve. In doing so, it would clear the way for auditors to attain the credibility, respect, and dignity to which they are entitled. Full Story

The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments.

©2009 The New York State Society of CPAs. Legal Notices


Visit the new