About douglas r. carmichael
Major Activities
Douglas R. Carmichael is an internationally recognized authority on accounting standards (GAAP), auditing standards (PCAOB and GAAS), and internal control over financial reporting (ICFR). He is currently the Claire and Eli Mason Professor of Accountancy at Baruch College (CUNY), author of widely used practice manuals for CPA firms, and a consultant to such firms, as well as a litigation consultant to attorneys.
- Regulator and Standard Setter – The only person to have ever served as both Chief Auditor of the PCAOB (the Board) and Vice President, Auditing of the AICPA in charge of writing professional standards. The primary advisor to the Board on policy and technical issues related to the auditing of public companies, including professional standards implemented in all of the PCAOB’s operating areas including registration, inspection, investigation, and enforcement. The PCAOB specified that the Chief Auditor must be “regarded by both the regulatory community, the accounting profession, and the public at large as a leader and standard-bearer for ethics and integrity,” as well as being “a recognized leader in setting or interpreting standards for the audit profession.” Also, appointed by the Board as the Chairman of the Standing Advisory Group (SAG).
- Litigation Consultant and Expert Witness – Expert witness for the FDIC in the case against PWC involving the Colonial Bank / TBW fraud resulting in the largest ever auditor malpractice damages verdict of $625 million. Expert witness for the Office of the New York State Attorney General concerning E&Y’s audits of Lehman Brothers. Expert witness in many other matters on behalf of the SEC, DOJ, FDIC, and FTC.
- Consultant to Regional and International CPA Firms – Providing assistance on the development of firm policies and procedures for complex auditing and accounting issues and working as part of audit teams implementing those policies and procedures in practice.
- Lead Author of PPC Guides to Audits – Writer and an original creator of practice manuals containing accounting and auditing guidance, forms, checklists, and audit programs for performing audits used in daily practice by thousands of CPA firms. Practitioners Publishing Company (PPC) is now a division of Thomson Reuters. PPC manuals include guides for performing audits of public companies, nonpublic companies, and entities in specialized industries, such as financial institutions, construction contractors, employee benefit plans, local governments, and nonprofit organizations. The manuals are peer reviewed by an international CPA firm.
- Consultant to Government Agencies – Designated by the SEC and New York State Office of Professional Discipline to investigate CPA compliance with professional standards.
- Founding Director of Baruch College’s Robert Zicklin Center for Corporate Integrity.
Certifications and Education
- Licensed Certified Public Accountant (CPA) New York and Illinois
- Certified Fraud Examiner (CFE)
- Certified in Financial Forensics (CFF)
- Ph.D, M.A.S., and B.S., University of Illinois
Awards
- The Accounting Today Top 100 Most Influential People in the Profession (1999, 2003, 2004, 2007) described as “one of the profession’s authorities on accounting and auditing issues,” and “a strong advocate for safeguarding ethics and integrity in the profession.”
- American Accounting Association, Auditing Section, Distinguished Service Award (2012), for “significant and sustained contributions” to the auditing profession.
- Awards for best articles in both The Journal of Accountancy (2000) and The CPA Journal (2001 and 2005).
- Outstanding CPA in Education, New York State Society of CPAs.