Audit Committee Chairs
February 12, 2014

The Independent Directors Council hosted its conference call for audit committee chairs of ICI member funds on Wednesday, February 12. The first portion of the call featured a discussion with Martin F. Baumann, the PCAOB Chief Auditor and Director of Professional Standards. This presented an excellent opportunity to ask him to address any topics of particular interest to you and your audit committee/board. Afterward, we had an informal and interactive discussion of general topics of interest among the participants. This part of the call enabled participants to raise questions, issues, or topics that would be helpful to discuss with other fund audit committee chairs.

The call was facilitated by Garry Moody, audit committee chair of the AllianceBernstein Funds and former vice chairman and U.S. and global managing partner of Deloitte’s investment management services group.


The discussion focused on topics of current interest, including:

  • PCAOB priorities
  • Audit quality
  • Valuation
  • Other issues


Martin F. Baumann joined the PCAOB in 2006, served as director of the Office of Research and Analysis from 2007 to 2009, and then became chief auditor. Prior to joining the PCAOB, he spent three years as executive vice president of finance and chief financial officer for Freddie Mac, where he was responsible for accounting and reporting, corporate planning, taxation, and capital management. Earlier, Baumann spent 33 years at PricewaterhouseCoopers, in positions such as partner, deputy chairman of the world financial services practice, and global banking leader.

This call was closed to the media.