The Board of Trustees of the Financial Accounting Foundation on Wednesday appointed OSCPA member Carolyn Smith, CPA, MBA, CRMA to a five-year term on the Governmental Accounting Standards Board.
Smith currently serves as the chief audit executive for Columbus City Schools. Her GASB term begins July 1 and extends through June 30, 2024.
“The FAF Board of Trustees is pleased to welcome Carolyn to the GASB,” said FAF Chairman Charles H. Noski. “As the audit leader of the largest school district in Ohio, Carolyn brings a unique and informed perspective in financial reporting, audit, risk, internal control, and compliance to the GASB.”
“I am very pleased that Carolyn is joining the GASB,” said David A. Vaudt, GASB chairman. “She has led large, longstanding accounting and audit programs and created successful compliance and internal controls departments from scratch. This diverse experience will help the board as we address accounting and financial reporting issues that affect the largest of states, the smallest of municipalities—and everyone in between.”
Smith succeeds outgoing GASB member David Sundstrom, whose second term concludes June 30.
In her role at Columbus City Schools, Smith leads all audits and advises the board of education on risk, control, and compliance for the entire school system comprising 52,000 students, 9,300 employees, and a $1.5 billion annual budget. She facilitated the district’s first enterprise risk management process, the district’s third-party anonymous fraud reporting system and the district’s whistleblower policy.
Prior to joining Columbus City Schools, Smith served as director of audit and business services at the Council of Aging of Southwestern Ohio. In this role, she established and managed the audit and contract division that monitored vendors for compliance and fiscal accountability. She also led the quality improvement department.
Earlier in her career, Smith served as a senior auditor with Foxx & Company CPAs and as a lead auditor with Parms & Co. in Columbus. In addition to her OSCPA membership, she is a board member of the Association of Local Government Auditors and a member of the Institute of Internal Auditors, the Association of Government Accountants and the Council of the Great City Schools.