PCAOB Standing Advisory Group to Include IIA Member

Jack Humphrey, Regulatory journalist
November 15, 2010 /

The Public Company Accounting Oversight Board (PCAOB) has released the list of  14 newly appointed members of the Standard Advisory Group (SAG). The list includes Stephen Homza, a member of the Institute of Internal Auditors (IIA) since 2003 and assumes a post in IIA’s Financial Services Advisory Board.

The SAG, of which most members are auditors, investors, and public company executives, among others, monitors the flow of the development of auditing and related professional practice standards. Based on its findings in these areas, the board provides recommendations to the Public Company Accounting Oversight Board.

Homza, who will now be serving the PCAOB for two years starting January next year, requested the board that a nomination be moved forward from SAG. PCAOB got more than 70 nominations.

Serving as a managing director of internal auditing at Legg Mason, Inc., Homza makes it a point to ensure the full function of the company’s internal auditing system and its subsidiaries, including broker dealers. Annually, he develops an audit plan that is based on risk factors.

Homza also directs the Legg Mason’s Internal Controls Committee’s compliance with the Sarbanes-Oxley Act. Before joining the Legg Mason, Homza served as an Audit Director with PNC Financial Services Group, where he was tasked to oversee the internal audits of a PNC subsidiary and a broker dealer fully owned by PNC.

Homza is a Certified Investment Fiduciary Risk Specialist.

 

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