The American Institute of Certified Public Accountants has named Carol S. Scott as its new vice president – business, industry, and government.
Scott, 50, will set strategic direction and develop and execute programs on behalf of chief executive officers, chief financial officers, controllers, and other CPAs working in business, industry and government, a vital group that comprises 45 percent of the Institute’s membership. She will report to Senior Vice President for Member Competency and Development Arleen Thomas.
“CPAs who work in business contribute to our capital market system in an incredibly rich variety of ways,” said Thomas. “Their core values of integrity and objectivity add tremendous value to all of the various roles they play within their organization. Those who work in the government sector bring integrity and accountability to many aspects of our government.
“We are delighted that Carol is joining our team and fortunate to have her energy and expertise. Carol’s lengthy experience as a CPA in corporate America gives her an insider’s perspective that’s critical as we work to meet the needs of a very diverse group of members.”
Prior to joining the AICPA, Scott was a divisional vice president of finance and human resources at Masco Corporation, a Fortune 250 company and manufacturer of home- improvement products. Prior to Masco, she served as a corporate controller and finance manager in the manufacturing and textile industries.
Scott is licensed as a CPA in North Carolina and holds an MBA from Eastern Michigan University. She was nominated for the Executive Corporate MBA program, where she graduated in the top 20 percent of her class with honors. She is a member of the North Carolina Association of CPAs.
Scott will be an advocate for members in industry and government and oversee the AICPA business, industry, and government team’s many projects, including the AICPA’s efforts to educate corporate America about the need to reflect sustainability in its financial statements; its work to help members implement enterprise risk management and IFRS; the quarterly business and industry Economic Outlook survey with the University of North Carolina, which gauges CPA executives’ views on economic performance in both the country and their own organizations; the Audit Committee Matching System, which helps corporate audit committees identify qualified CPAs to serve as members; and the Audit Committee Effectiveness Center, a virtual set of resources to assist for-profit, not-for-profit and governmental audit committees in discharging their responsibilities more efficiently and with greater efficacy.
Scott will be based in the Institute’s Durham office and will travel widely to meet with AICPA members in business, industry, and government.