James R. Doty a Biographical Sketch: The Early Years and some PCAOB Highlights

• In Event: Reception with ELS posters
  In Poster Session: Poster 1

Abstract

“The first thing you do in your confirmation hearing, you say you want to thank the President of the United States… I can’t tell you how many confirmation hearings I’ve seen where a presidential appointee comes in and forgets to thank the president for appointing him.” (Durr 2010, 7)

When James R. Doty heard a White House Aide give this kind of practical advice to a friend of his, he said he would never forget it. Throughout Doty’s life, his ability to thank others and his great work ethic has helped him obtain great friendships and success. He was ultimately able to historically impact auditing related regulation. Doty was born and raised a Texan and aspired to be a historian. This biography starts with the noteworthy story of his early years – Pre-PCAOB (Public Company Accounting Oversight Board).

Doty’s career as a corporate lawyer and partner at Baker Botts L.L.P. and later his years as the first Counselor to the Chairman of the Security Exchange Commission (SEC), were assisted not only by his Rice, Oxford, Harvard, and Yale educations, but by the connections he made along the way. During his educational journey he studied on both sides of the Atlantic with a focus on European and British History. He finally realized he would prefer to be a lawyer, and was accepted into law school at Yale.

This record discusses Doty’s accomplishments and roles as General Counsel of the SEC; and how his 40 years of law practice also helped him be prepared to aggressively tackle legislative change as a Chairman of the PCAOB. The reader will learn his views on policy and disclosure, which are relevant to his PCAOB years.

Author

• Dallin Smith, Case Western Reserve University