Davidson brings extensive cross-industry accounting, financial reporting, governance, and leadership experience to advance audit quality.
Ernst & Young LLP (EY US or the Firm) today announces the appointment of Carol Anthony (John) Davidson to its Independent Audit Quality Committee (IAQC).
Created in January 2019, the IAQC provides independent advice to EY US senior leadership on all matters related to the Firm’s system of quality control that affect audit quality, including aspects of its business, operations, culture, talent strategy, governance, and risk management. The committee consists of senior external leaders with substantial, diverse experience highly relevant to this mandate.
About the appointment, Julie Boland, EY US Chair and Managing Partner and Americas Managing Partner, said: “John’s breadth and depth of experience across the financial reporting ecosystem will be invaluable as we continue to strengthen audit quality across the Firm. I look forward to working with John as he brings an independent perspective to the IAQC to advance our unwavering commitment to audit quality.”
Davidson brings significant experience to the IAQC. He is the lead independent director and chair of the audit committee of TE Connectivity and a director of FMC Corporation and International Flavors & Fragrances. Previously, he was a director of Pentair Ltd., Legg Mason Inc., DaVita Inc. and Allergan Plc.
Davidson also served on the board of governors of the Financial Industry Regulatory Authority (FINRA) for more than five years and was a trustee and Vice Chair for the Financial Accounting Foundation. He is a certified public accountant and began his career in public accounting.
“Audit quality is at the foundation of everything we do and the driving force behind our multiyear transformation strategy,” said John King, EY Americas Vice Chair of Assurance. “As an IAQC member, John will provide guidance to support the Firm as we embrace our responsibility to perform audits that promote trust in the capital markets and investor confidence.”
Davidson, who had a decades-long career as a financial executive, joined the newly appointed leadership team of Tyco International, a provider of diversified industrial products and services, in 2004. From 2004 through 2012, he served as Tyco International’s Senior Vice President, Controller and Chief Accounting Officer. Prior to that, Davidson held executive roles at Dell Inc., including Vice President of Audit, Risk and Compliance, and Vice President and Corporate Controller.
Today, Davidson is a trustee for the University of Rochester, where he earned his MBA. Earlier, he served as a trustee for St. John Fisher University where he graduated with a BS in Accounting.
“Having spent decades working across the accounting, finance and related regulatory fields, and serving on multiple boards, it will be a rewarding experience to join the EY US IAQC and work as part of this esteemed committee to advise the Firm as it further advances its commitment to performing high-quality audits in support of robust capital markets,” said Davidson.
Other IAQC members include:
Dina Dublon, who joined the committee in 2020, serves on boards of directors for PepsiCo, T. Rowe Price and Motive Capital Corp II. She also chairs Columbia University’s Mailman School of Public Health board of advisors.
Previously, she served on the boards of Deutsche Bank AG, Accenture plc, Microsoft Corporation, and several nonprofit organizations, including the Women’s Refugee Commission and Global Fund for Women. She also was the Executive Vice President and Chief Financial Officer at JPMorgan Chase & Co.
Jeanette M. Franzel, one of the IAQC’s original members, brings extensive audit and public interest experience to the IAQC. Franzel had a distinguished career at the U.S. Government Accountability Office (GAO), and she was a member of the Public Company Accounting Oversight Board (PCAOB) from 2012 to 2018. She testified numerous times before congressional committees and subcommittees on governance and accountability issues.
She is a board member for the North Carolina Association of CPAs and chairs their diversity and inclusion working group.
For a comprehensive overview of the Firm’s efforts to enhance audit quality, please refer to our 2022 US audit quality report.
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