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 names and biographies of the new and current members can be found at www.pcaobus.org under Standards.

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.  PCAOB 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 PCAOB Chief Auditor and Director of Professional Standards, Douglas R. Carmichael, and will meet approximately three times each year.