JOSEPH V. CARCELLO, Ph.D., CPA, CIA, CMA is the co-founder and Director of Research at the University of Tennessee's Corporate Governance Center, and he is the Ernst & Young Professor in the Department of Accounting and Information Management. Dr. Carcello was named by Beta Alpha Psi as its Business Professional of the Year in 2008. He also was named by Business Finance magazine as one of the "most influential" individuals in accounting and finance in each year from 2004 through 2007, and he was named by Business Week as a "prominent faculty" in its 2006 ranking of undergraduate business programs. Dr. Carcello has testified before a United States Treasury Department committee on the future of the auditing profession.
Dr. Carcello serves on the Public Company Accounting Oversight Board's Standing Advisory Group, a group of experts charged with advising the PCAOB on the promulgation of auditing and related professional practice standards. He is one of only two academics to serve on this group. Dr. Carcello has published over 40 articles in academic and professional journals on audit committee performance, financial fraud, going-concern reporting, and audit quality, including publications in The Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, AUDITING: Journal of Practice & Theory, and Accounting Horizons, among numerous others. He is an associate editor at Accounting Horizons, and serves as a member of the editorial board at The Accounting Review, Contemporary Accounting Research, Auditing: A Journal of Practice & Theory, and Current Issues in Auditing.
Dr. Carcello is the co-author of a funded research study by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission titled, Fraudulent Financial Reporting: 1987-1997, An Analysis of U.S. Public Companies. This study has been referred to by Senator Paul Sarbanes as a "landmark" study on fraudulent financial reporting (speech to the Consumer Federation of America, March 2006). The study's results have been presented to officials at the Securities and Exchange Commission (SEC) and have been frequently cited in SEC rules and speeches. Dr. Carcello is also the co-author of a follow-on research study published by the AICPA's Auditing Standards Board titled, Fraud-Related SEC Enforcement Actions Against Auditors: 1987-1997.
Dr. Carcello is a member of the Institute of Internal Auditors Professional Issues Committee and previously served on its Board of Research Advisors. He served as Vice President - Finance for the American Accounting Association (AAA) and as a member of the Executive, Finance, and Audit Committees for AAA. Dr. Carcello also has served as president of the Auditing Section of the AAA. Dr. Carcello served on COSO's Small Business Control Guidance Advisory Group Task Force, a group established at the behest of the SEC to provide guidance to smaller public companies in complying with Section 404(a) of the Sarbanes-Oxley Act. He serves as an academic advisor to Oversight Systems, Inc. and as a research fellow of the ERM Initiative at North Carolina State University.
Dr. Carcello is the co-author of the 2009 Miller GAAP Guide and 2009 Miller GAAS Guide, financial accounting and auditing reference books for practicing CPAs. He has provided consulting services on revenue recognition to the software industry, and has served the Securities and Exchange Commission as an expert witness. Dr. Carcello has been retained to evaluate corporate governance reforms instituted as part of a legal settlement of a shareholder derivative claim in federal court involving a large public company. He has provided training to a number of public and private companies on fraudulent financial reporting and on corporate governance, including Section 404 of the Sarbanes-Oxley Act, PCAOB Auditing Standard No. 2, and the COSO internal control framework. Finally, he has taught continuing professional education courses for two of the Big 4 accounting firms, AICPA, Institute of Internal Auditors, and The Institute of Management Accountants.
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