GSB Finance Roundtable
April 14, 6:00 PM - 8:30 PM
Audit Committee Financial Literacy: A Work in Progress
The NYSE and the NASD require, through their listing requirements,
that every publicly traded company have an audit committee
with financially literate members. The Sarbanes-Oxley Act
requires public companies to have an Audit Committee Financial
Expert. Are public firms meeting these standards? Just what
is the definition of financial literacy? And does having
a financially literate audit committee make a difference
in the returns of the firm?
Prof. Roman Weil will present his recently completed research on the progress
towards Audit Committee Financial Literacy. He will touch on key topics:
What is the history of financial literacy?
What is the meaning of financial literacy?
How can we rate firms on their financial literacy capabilities?
How did firms score in the ratings?
How literate are individual board members?
Do financially literate firms earn higher returns?
This session will examine the public policy results of
a key aspect of corporate governance improvements. You will
learn a method to rank financial literacy at your firm and
across the corporate landscape and discover how financial literacy
impacts the financial returns of firms.
450 North Cityfront Drive
how to reach Gleacher Center
Prof. Roman Weil
V. Duane Rath Professor of Accounting
University of Chicago Graduate School of Business
No Charge but pre-registration is required.
5:30PM - 6:00PM : Sponsor Table Review
6:00PM - 7:30PM : Presentation
and Formal Discussion
7:30PM - 8:30PM : Informal Discussion
and Networking (Cash Bar)
Contact for Finance Roundtable
ROMAN L. WEIL is Professor of Accounting at the GSB and serves
as Director of its Directors’ Consortium, which trains
corporate board members. This is a joint venture of Chicago,
Stanford Law School and The Wharton School.
Professor Weil has been a CPA in Illinois since 1973 and a
CMA since 1974. He has served on the faculties of the Georgia
Institute of Technology, New York University Law School, at
Stanford University in its Graduate School of Business, Economics
Department and Law School, and at the University of Washington.
He has co-authored or co-edited numerous textbooks and professional
reference books for Holt, Rinehart McGraw-Hill, Simon & Schuster,
Prentice-Winston, The Dryden Press, Harcourt, Brace & Jovanovich,
Thomson Learning, and for John Wiley, the Litigation Services
Handbook. He has served as editor or associate editor of The
Accounting Review, Management Science, Journal of Accounting
and Economics, and the Financial Analysts Journal.
Prof. Weil served on the SEC Advisory Committee on Replacement
Cost Accounting. At the FASB, he has served on task forces
on consolidations and on interest methods. Prof. Weil also
serves on the Board of Directors of mutual funds affiliated
with New York Life Insurance Company and chairs the Audit Committee.
Additionally Weil serves on the Investment Company Institute’s
Independent Directors’ Council. He has consulted for
a wide variety of corporate clients, including many members
of the Fortune 500.
Weil received his BA in Economics and Mathematics from Yale
University and both his MS in Industrial Administration and
Ph.D. in Economics from Carnegie-Mellon University. He joined
the faculty at the University of Chicago in 1965, where he
has held positions in Mathematical Economics, Management and
Information Sciences, Accounting, and in the Law School.