WEST SACRAMENTO, CA--(Marketwired - February 22, 2017) - The California State Teachers' Retirement System is celebrating the appointment of its Chief Operating Investment Officer, Debra Smith, to the Public Company Accounting Oversight Board's Standing Advisory Group. Ms. Smith will represent the investors' perspective and voice in the advisory group. Her three-year term runs through the end of 2019.
"We are very pleased that Debra will be the voice of what investors -- and especially institutional investors -- expect and demand from the accounting profession. She is ideally suited for this appointment with a long professional career in finance, combined with the experience of an institutional investor," said CalSTRS Chief Investment Officer Christopher J. Ailman.
Members of the advisory group are selected by the PCAOB Board, in its sole discretion, based upon nominations, including self-nominations, received from any person or organization.
"I'm very excited to participate on the standing advisory group to provide input from an investor's perspective, it's a great opportunity," said CalSTRS COIO Debra Smith. "My role is especially significant because I'm representing a large, public institutional investor that provides retirement for more than 914,000 members. I look forward to providing valuable feedback on the development of auditing standards in support of PCAOB's risk mitigation efforts and continued promotion of public trust in quality reporting standards."
The California State Teachers' Retirement System, with a portfolio valued at $198.8 billion as of January 31, 2017, is the largest educator-only pension fund in the world. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans. CalSTRS also provides disability and survivor benefits. CalSTRS serves California's more than 914,000 public school educators and their families from the state's 1,700 school districts, county offices of education and community college districts.
See how CalSTRS demonstrates its strong commitment to long-term corporate sustainability principles in its annual Global Reporting Initiative sustainability report: Fostering a Secure Future. Follow us on Twitter @CalSTRS
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