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Faculty Profiles

Joseph Carcello

Department Head

Ernst & Young and Business Alumni Professor

Executive Director - Corporate Governance Center


JOSEPH V. CARCELLO, Ph.D., CPA, CGMA, CMA, CIA is the Department Head and EY and Business Alumni Professor in the Department of Accounting and Information Management, Haslam College of Business, at the University of Tennessee.  He also is the cofounder and Executive Director at the University of Tennessee’s C. Warren Neel Corporate Governance Center.  Dr. Carcello received the Bank of America Leadership Award in 2014, the Tennessee Society of CPAs Distinguished Achievement in Accounting Education Award in 2010, the UT National Alumni Association Outstanding Teacher Award in 2009, and Beta Alpha Psi’s Business Professional of the Year award in 2008.  He has testified before United States Treasury Department committees and working groups on the future of the auditing profession and on the JOBS Act, and before a Congressional subcommittee on accounting and auditing regulation.  Dr. Carcello has been named by Business Week as a “prominent faculty” in its ranking of undergraduate business programs, and he was named by Business Finance magazine as one of the “most influential” individuals in accounting and finance for four consecutive years, the only academic to be so recognized. 

Dr. Carcello serves as a member of the Securities and Exchange Commission’s (SEC) Investor Advisory Committee (IAC); a statutorily-created committee as a result of Section 911 of the Dodd-Frank Act.  The IAC is a group of experts charged with advising the SEC on regulatory priorities, the effectiveness of disclosure, and on initiatives to protect investor interests and to promote investor confidence and the integrity of the securities markets, among other responsibilities.  In addition, he has served as a charter member of the Public Company Accounting Oversight Board’s Investor Advisory Group since 2010.  The PCAOB’s Investor Advisory Group is a group of experts charged with advising the PCAOB on broad policy issues and other matters that affect investors and that are related to the work of the Board.  He also served three terms on the PCAOB’s Standing Advisory Group (SAG), a group of experts charged with advising the PCAOB on the promulgation of auditing and related professional practice standards, between 2006 and 2012.  He chairs the Knox County Audit Committee; Knox County is the third largest county in the State of Tennessee with a population of approximately 400,000 and an annual budget of approximately $600 million.  Finally, Dr. Carcello serves as a member of the SEC Historical Society Board of Advisors and Museum Committee.

Dr. Carcello has published over 60 articles in academic and professional journals on audit committee performance, financial fraud, going-concern reporting, and audit quality, including publications in The Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, AUDITING: A Journal of Practice & Theory, and Accounting Horizons, among numerous others.  He serves as an editor of Contemporary Accounting Research, and on the editorial boards of The Accounting Review, Auditing: A Journal of Practice & Theory, Accounting Horizons, and Current Issues in Auditing.  Dr. Carcello also has served as an ad-hoc reviewer for numerous other journals including: Journal of Accounting Research, Journal of Accounting and Economics, Management Science, Decision Sciences, and the Journal of Accounting and Public Policy.  He also has served as an outside reviewer for the research councils of the Canadian and Hong Kong governments.

Dr. Carcello is the co-author of funded research studies by COSO that examined fraudulent financial reporting in the U.S. from 1987-1997 (published in 1999) and from 1998-2007 (published in 2010).  The 1999 study has been referred to by Senator Paul Sarbanes as a “landmark” study on fraudulent financial reporting (speech to the Consumer Federation of America, March 2006).  The study has been cited by The Wall Street Journal, Barron’s, numerous regional newspapers throughout the country, and Georgia Public Television.  The study’s results have been presented to officials at the Securities and Exchange Commission (SEC), and have been frequently cited in SEC rules and speeches.  Dr. Carcello is also the co-author of follow-on research studies on SEC fraud-related actions against auditors, one published by the AICPA’s Auditing Standards Board in 2000 and the other published by the Center for Audit Quality in 2013.

Dr. Carcello is the co-author of CCH’s GAAP Guide and GAAS Guide, financial accounting and auditing reference books for practicing CPAs.  He has provided consulting services for a number of public company audit committees, including the audit committee of a Fortune 50 company.  Dr. Carcello also has provided consulting services on revenue recognition to the software industry, and has served the Securities and Exchange Commission and private attorneys as an expert.  He has served as an expert in evaluating corporate governance reforms instituted as part of legal settlements of shareholder claims in federal and state courts.  Dr. Carcello has provided training to a number of public and private companies on fraudulent financial reporting and on corporate governance, including Section 404 of the Sarbanes-Oxley Act and related PCAOB auditing standards, and the COSO internal control framework.  Finally, he has taught continuing professional education courses for two of the Big 4 accounting firms, AICPA, Institute of Internal Auditors, The Institute of Management Accountants, and the Tennessee and Florida Societies of CPAs.

Dr. Carcello's primary teaching interests are in auditing, corporate governance, and financial accounting.  He has taught undergraduate, MAcc, Executive MBA, and Ph.D. courses.  Dr. Carcello has received awards from the College of Business for his teaching and research performance. He has delivered academic lectures and or professional presentations in Australia, Canada, Germany, The Netherlands, and the United Kingdom, including teaching Ph.D. seminars at the Norwegian School of Economics.

Dr. Carcello previously served on COSO’s Small Business Control Guidance Advisory Group Task Force, a group established at the behest of the SEC to provide guidance to smaller public companies in complying with Section 404(a) of the Sarbanes-Oxley Act.  He has previously served as Vice President – Finance of the American Accounting Association (AAA), and as a member of the Executive, Finance, and Audit Committees of AAA.  Dr. Carcello also served the Auditing Section of the AAA as President, Past President, Vice President – Academic, Treasurer, liaison to the AAA Annual Meeting Planning Committee, and Vice Chairperson of the Auditing Standards Committee.  Dr. Carcello served the AAA as chair of the program committee for the 2005 Annual Meeting, as a member of the Wildman Award Committee, and as a member of the Education Committee where he served as liaison to the 2001 New Faculty Consortium Planning Committee.  In addition, he has served as a member of academic advisory councils for Grant Thornton and Institutional Shareholder Services.  Finally, he has served on the Institute of Internal Auditors’ Professional Issues Committee and on IIA’s Board of Research Advisors.    

Dr. Carcello is a past recipient of the Robert Beyer Gold Medal for his performance on the Certified Management Accountant examination.  He has received research grants from COSO, KPMG, the Center for Audit Quality, and The Institute of Internal Auditors.

(Resume available upon request.)

Department of Accounting and Information Management ~ 637 Stokely Management Center ~ 916 Volunteer Blvd ~ Knoxville, TN 37996-0560
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