Douglas R. Ayres received his undergraduate degree from Ball State University with a major in accounting and received his doctorate from the University of Tennessee with a major in accounting and a minor in finance. His primary research interests include financial accounting and capital markets, auditing and corporate governance. His primary teaching interests include financial accounting, auditing, managerial accounting, business valuation and financial statement analysis. He is an actively licensed CPA in the state of Indiana.

Prior to academia, Ayres was employed for nearly 11 years at Somerset CPAs, P.C. (now a part of CBIZ), an accounting firm with approximately 200 professionals in Indianapolis, Indiana. While employed there, he was promoted to the level of audit manager and then to senior manager within the entrepreneurial and litigation support groups. He managed several audits and attest engagements and then transitioned to a consulting role primarily focused on business valuation and litigation support. He managed a book of business and served as an expert witness in that role.