May 9, 2007

Center for Audit Quality Hires Two New Staff Members

Washington, D.C. -- The Center for Audit Quality (CAQ) is pleased to announce today the addition of two senior staff members, Bob Burns and Lori Schock.

“I am thrilled to welcome two such accomplished individuals to the Center for Audit Quality. Their unique experience and distinct expertise will significantly enhance our ability to achieve
the CAQ’s mission,” said Cynthia Fornelli, the Executive Director of the Center for Audit Quality.

Burns joins the CAQ as Director of Research, and will be responsible for leading the Center's research efforts on advancing audit quality. His work will focus on improving methods for fraud
detection, enhancing financial reporting and finding ways to ensure that the “best and the brightest” are attracted to public company auditing.

Lori Schock joins the CAQ as the Director of Outreach and will be responsible for the CAQ’s efforts to communicate and partner with investors, academic experts, and other capital market participants interested in all issues related to audit quality and business reporting.

Burns joins the CAQ from the Securities and Exchange Commission (SEC), where he served as Chief Counsel in the Office of the Chief Accountant since 1984. Burns brings twenty-two years of experience in legal, congressional, rulemaking and enforcement matters related to accounting and auditing. He was intricately involved in all aspects of the creation of the Public Company Accounting Oversight Board (PCAOB) and the SEC oversight of that agency. 

Prior to joining the SEC, Burns served as a Captain in the Judge Advocate General Corps of the U.S. Army. Burns attended the US Army Judge Advocate General School at the University of Virginia and received his Juris Doctorate from the University of Akron School of Law, Akron, Ohio.

Burns has received several honors for his service including receiving the 2005 Paul R. Carey Award, for integrity and dedication to the interests of investors; the 2000 SEC Distinguished Service Award, which is described as “the Commission’s highest honorary award”; and a 2000 Chairman’s Award for Excellence. 

Schock also comes to the Center from the SEC where she served as the Acting Director of the Office of Investor Education and Assistance and was charged with handling questions and
complaints by investors to the SEC. In that capacity, she focused primarily on investor education initiatives and provided advice on policy matters relating to investor protection. Schock joined the Commission in 2001 and held various positions of increasing responsibility during her tenure, including Deputy Director and Special Counsel to the Director. 

Prior to joining the Commission, Schock worked for two brokerage firms as a registered representative. She received her Juris Doctorate and Master’s of Taxation from the University of Akron and her Bachelor of Arts from Furman University.

Burns and Schock join Jane Cobb, who joined the CAQ earlier this year as the Director of Operations. Cobb served as the head of Congressional Affairs at the SEC before joining the
CAQ.

The Center for Audit Quality is an autonomous, nonpartisan, nonprofit group affiliated with the AICPA and based in Washington, D.C. The Center’s mission is to foster confidence in the audit process and to aid investors and the capital markets by advancing constructive suggestions for change rooted in the profession’s core values of integrity, objectivity, honesty and trust.