PCAOB announces Standing Advisory Group members

WASHINGTON, Oct. 30, 2007 – The Public Company Accounting Oversight Board has announced new appointments and re-appointments to its Standing Advisory Group for 2008.

In May 2007, the PCAOB began soliciting nominations and re-nominations to fill the slots of those whose terms ended this year. The PCAOB received approximately 90 nominations and re-nominations. From this list, the PCAOB selected individuals with expertise in a variety of fields, including accounting, auditing, corporate finance, corporate governance and investing in public companies.

The list of new, reappointed and current members of the advisory group can be found here.

The new two-year terms will begin in January 2008. Membership in the advisory group is personal to the member, and the duties and responsibilities of the member cannot be delegated to others. The PCAOB solicits nominations and re-nominations annually.

The group is chaired by its chief auditor and director of professional standards, Thomas Ray, and meets approximately three times a year.

Board's CFO resigns

The PCAOB also announced that Tom Hohman is resigning from his position as chief financial officer to become a CFO of a private company.

Hohman joined the PCAOB in July 2003. He is the organization’s first CFO and one of the PCAOB’s founding officers. He brought more than 17 years experience in finance, accounting, and business operations to his role at the PCAOB.

“I joined the PCAOB because I was attracted to the challenges and opportunities associated with a start-up organization,” Hohman said. “Others have said it before about the PCAOB, but I don’t think I’ve ever seen such a high caliber group of professionals assembled in one place. I’ve been privileged to work with an outstanding workforce. I’ll especially miss the dedicated, able group in our Finance Department.”

For much the same reasons, he is leaving the PCAOB to pursue another entrepreneurial opportunity with a private company in Maryland.

“Tom was integral in developing a PCAOB infrastructure, helping the organization put in place sound financial systems and internal controls,” said PCAOB Chair Mark W. Olson. “I know he will play just as valuable a role in his new position."

Prior to joining the PCAOB, Mr. Hohman served as CFO at a number of technology companies, ranging from start-up to $60 million in revenue, and at a venture capital firm with $200 million in invested capital. He began his career as an auditor with Ernst & Young LLP. He received a lor's degree in accounting.

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