Bowsher is chairman of the Public Oversight Board, which oversees the accounting profession, but which is disbanding March 31.

FORBES: Magazine Article

The Public Oversight Board, which monitors the process, lacks independence from the accounting profession, which funds and staffs it, and has little ability to punish miscreant auditors.

ECONOMIST: ��Errors of judgment�� are piling up at Andersen

McDonough, a former executive of First Chicago, did a 10-year stint as head of the Federal Reserve Bank of New York before becoming the first chairman of the Public Company Accounting Oversight Board, a U.S. regulatory entity overseeing the accounting profession, in 2003.

FORBES: Magazine Article

McDonough, a former executive of First Chicago, did a 10-year stint as head of the Federal Reserve Bank of New York (nyse: BK - news - people ) before becoming the first chairman of the Public Company Accounting Oversight Board, a U.S. regulatory entity overseeing the accounting profession, in 2003.

FORBES: McDonough Heads To Merrill, Acquisitions Ahead?