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Director Sought for Fraud Center

 

April 6, 2010

The PCAOB has begun the search for a director to run the planned Financial Reporting Fraud Resource Center.

 

The center is expected to maintain and develop information related to financial reporting fraud. It will publish public reports on financial reporting fraud risks.

 

Its creation is in response to a recommendation from the Treasury Advisory Committee on the Auditing Profession, which was established in 2007. One of the recommendations called for the creation by the PCAOB of a national center to facilitate the prevention and detection of financial fraud.  

 

The director will work with the Board and senior PCAOB staff to set up the operations and activities of the new center. Once the center has been launched, the director will be responsible for its day-to-day operations, including hiring and managing staff.

 

“The Center is intended to complement the work of the PCAOB in improving audit quality in this area, by identifying opportunities and incentives for fraudulent financial reporting,” Daniel L. Goelzer, the PCAOB’s acting chairman, said in a press release. “We believe the Center’s work will raise the awareness of the investing public, other regulators and interested parties of financial reporting fraud.”

 

According to the job listing, the PCAOB is searching for someone who, among other things, can monitor emerging fraud risks (financial and nonfinancial) and developments (geoeconomic and geopolitical) in domestic and foreign capital markets, industries and public companies and analyze and interpret financial trends, developments and anomalies to identify factors that may contribute to financial reporting fraud.

 

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