PCAOB Appoints Martin C. Schmalz as Chief Economist and Director of Office of Economic and Risk Analysis

On August 28, 2023, the PCAOB named Dr. Martin C. Schmalz as Chief Economist and Director of Office of Economic and Risk Analysis (OERA). Dr. Schmalz will advise and assist the Board in conducting independent, data-driven economic and risk analyses to inform the PCAOB’s oversight activities, including inspections, investigations, rulemaking, and standard setting. Dr. Schmalz was previously Professor of Finance and Economics at the University of Oxford, Saïd Business School, where he led the Finance, Accounting, Managerial Science, and Economics faculty group.

The PCAOB also announced that OERA’s Acting Director, Michael J. Gurbutt, would resume his role as OERA’s Deputy Director of Economic Analysis and Operations, where he will oversee day-to-day operations of the department, provide economic and post-implementation analysis of PCAOB rules and standards, and advise the PCAOB Chief Economist on policy questions and strategic initiatives.

The PCAOB press release regarding Dr. Schmalz’s hiring is here.