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Jun 27, 2016 2016-06 Faculty Finance

Dean Jeffrey R. Brown Joins CAQ Governing Board

Jeffrey R. Brown, the Josef and Margot Lakonishok Professor of Business and Dean of the College of Business at the University of Illinois at Urbana-Champaign, has been named to the Governing Board of the Center for Audit Quality (CAQ), where he will serve as one of the CAQ’s independent board members.Brown The CAQ is a nonpartisan, nonprofit group based in Washington, DC dedicated to enhancing investor confidence and public trust in global markets. Its Governing Board, which sets the policy agenda and provides strategic oversight for CAQ, is comprised of the chief executive officers from the world’s largest public company auditing firms and the American Institute of CPAs, as well as experts from the investor, academic, and issuer communities. As a Board member, Dean Brown will promote the concept that a robust public company auditing profession is fundamental to capital markets. “Jeff brings a wealth of capital markets and policy expertise to the Board,” said CAQ Governing Board Chair and Deloitte LLP CEO Cathy Engelbert. “He will provide significant value to the CAQ as it seeks to generate and support research that can enhance audit quality and continues to work with the academic community to develop the next generation of talent in the profession.” “The CAQ will benefit greatly from Jeff’s deep understanding of economic research,” said CAQ Executive Director Cindy Fornelli. “Our independent board members bring insights that provide critical context to the CAQ’s important policy work and we welcome Jeff to the Board.” Dean Brown is no stranger to the field of public policy and auditing. In addition to his other roles, he currently serves as Chair of the Audit Committee for TIAA, where he has been a Trustee since 2009. Prior to joining the Illinois faculty, he was an assistant professor of public policy at Harvard University’s John F. Kennedy School of Government. From 2001 to 2002, he served as Senior Economist at the White House Council of Economic Advisers and on the staff of the President’s Commission to Strengthen Social Security. He also served as a member of the Social Security Advisory Board from 2006 – 2008 and as a member of the 2015 Social Security Technical Panel. He holds a PhD in economics from the Massachusetts Institute of Technology, a Master of Public Policy degree from Harvard University, and a BA from Miami University. He also serves as the Director of the Retirement Research Center at the National Bureau of Economic Research (NBER) in Cambridge, MA. “Public company auditors play a critical role in our capital markets system,” said Dr. Brown. “I am honored to work with this esteemed group of individuals to help guide the CAQ in its mission to serve investors, public company auditors, and the markets at a critical time in the profession’s evolution.”