CHICAGO, Nov. 12, 2009 - Grant Thornton LLP National Managing Partner of Professional Standards John (Arch) Archambault has been appointed to the Public Company Accounting Oversight Board's (PCAOB) Standing Advisory Group to assist the Board in carrying out its standards-setting responsibilities.
"Arch is a perfect fit for this prestigious appointment," said Ed Nusbaum, CEO of Grant Thornton LLP. "He has been involved with the PCAOB since Grant Thornton registered in 2003. He's followed closely the development of numerous standards, and he's been involved with many aspects of the PCAOB inspection process. Arch's experience in the auditing profession spans three decades and includes participation and leadership in countless task forces and standard-setting committees. His particular brilliance lies in formulating practical approaches, a talent that is essential for putting teeth behind intention. They have got to work in the real world, or standards become merely philosophical positions."
The Standing Advisory Group (SAG) brings a multi-disciplined view to the Board's process of setting auditing standards by sharing its advice on the establishment of auditing and related professional practice statements. The SAG currently includes 30 individuals with expertise in a variety of fields, including accounting, auditing, corporate finance, corporate governance, and investing in public companies. The Board has also granted six organizations observer status with speaking rights at all SAG meetings: the Auditing Standards Board of the American Institute of Certified Public Accountants, the Department of Labor, the Financial Accounting Standards Board, the Government Accountability Office, the International Auditing and Assurance Standards Board, and the Securities and Exchange Commission.
"It is an honor to be appointed to the Standing Advisory Group," said Archambault. "I look forward to helping the Board in its efforts to improve continuously the auditing standards and the quality of audits."
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