The Advisory Board was composed of senior leaders from the corporate and academic communities. It was responsible for guiding and shaping OCEG's initial mission, vision, and statement of principles. Members include:
- B. Charles Ames
- Co-Chair, OCEG Advisory Board
- Vice-Chair, Clayton, Dubilier & Rice; director of Riverwood and Progressive Insurance
- Ron Berenbeim
- Director of Ethics Research, The Conference Board
- Alfred Berkeley
- Former Vice-Chair, NASDAQ
- Rick Braddock
- Chairman, Priceline; Former President Citibank; Board Member, Kodak; board Member, Cadbury-Schwepps
- Beth Brooke
- Vice-Chair, Ernst & Young
- John J. Castellani
- President, The Business Roundtable
- Dan DiFilippo
- US Managing Partner, Governance, Risk & Compliance, PricewaterhouseCoopers
- Lee Dittmar
- Principal, Deloitte
- Charles Elson
- Executive Director, Center for Corporate Governance, University of Delaware
- Bob Felton
- Managing Partner for Corporate Governance Practice, McKinsey & Co.
- Jean FitzSimon
- Principal, Bridge Associates; co-chair for the Practising Law Institute's Corporate Compliance Institute; co-chair of the American Bar Association's Corporate Compliance Committee
- Stephen J. Friedman
- President, Pace Law School; former Partner, Debevoise & Plimpton; President of the Practising Law Institute; former Commissioner of SEC
- Peter Gleason
- COO, National Association of Corporate Directors
- Jack Hampton
- Former Executive Director, The U.S. Risk and Insurance Management Society
- Joseph Hardiman
- Former CEO, NASD and NASDAQ; former President of Alex Brown
- Dave Heller
- VP Risk Management and Chief Compliance Officer, Qwest
- Ray J. Groves
- Co-Chair, OCEG Advisory Board
- Former CEO, Ernst & Young; Director of EDS, MMC, and Gillette
- Scott L. Mitchell
- Chairman and CEO, OCEG
- Chairman and CEO, DoubleDrum Capital
- Jack Kemp
- Co-founder and chairman, Corporate Diagnostics; chairman, FreedomWorks; founder and chairman, Kemp Partners; former US Congressman, Cabinet Secretary and Vice Presidential Candidate (1935 - 2009)
- Richard Koppes
- Of Counsel, Jones Day; co-chair of Stanford Law School Executive Education; Director of the Investor Responsibility Research Center (IRRC); former general counsel and deputy officer of CalPERS
- Peter Kreindler
- General Counsel, Honeywell International, Inc.
- Patricia Leonard
- COO, American Management Association
- Andrall E. Pearson
- Founding Chairman, Tricon; director, Citigroup; YUM Brands, the Metropolitan Museum of Art, and the NYU Medical Center; professor emeritus, Harvard (1925 - 2006)
- Joseph J. Plumeri
- Executive Chairman and CEO, Willis Group Holdings LTD
- Ned Regan
- President, Baruch College; former Comptroller State of New York
- Gerald Rosenfeld
- CEO, Rothschild; Director of Case, Continental Grain
- Doug Shulman
- President, NASD Regulatory & Compliance Services
- Richard Steinberg
- Author, COSO Internal Control & COSO ERM; Partner, Steinberg Governance Advisors; former Managing Partner for Corporate Governance Practice, PricewaterhouseCoopers
- Ken Thrasher
- Chairman and CEO, Compli
- Former CEO, Fred Meyer Stores, Division of Kroger
- Gabe Shawn Varges
- Senior Executive Legal Officer, Zurich Financial Services;
- co-chair for the Practising Law Institute's Corporate Compliance Institute; chair Corporate Counsel Association's European Corporate Governance Committee
- Christopher E. Watson
- Chairman and CEO, Gulf Insurance
- Leo C. O'Neill
- Former President, Standard & Poor's (1940-2004)
- Jack Jennings
- Executive Vice President, Willis; Executive Advisory Council of St. John's University School of Risk Management