Audit Risk Alert for Year-End 2008/2009

AICPA Directors Chuck Landes, Dan Noll and Amy Eubanks address current accounting developments, auditing developments, the regulatory environment, and the current economic and industry environment and their impact on engagements including, what’s on the horizon.

Auditors currently planning and executing year-end audits will find this Webcast On-Demand timely and directly relevant to this year’s engagements. Find out information on:

• Convergence with International Financial Reporting Standards
• FASB Codification Project
• ASB’s Clarity Project including convergence with international standards

Plus, you’ll get detailed guidance on these and other important standards:

• The Hierarchy of Generally Accepted Accounting Principles (FASB No. 162)
• Disclosures about Derivative Instruments and Hedging Activities (FASB No. 161)

• Business Combinations (FASB Nos. 160 and 141(R))
• Fair Value Accounting Standards (FASB Nos. 157 and 159)
• Risk Assessment Standards
• SAS No. 112, SAS No. 114

Amy Eubanks, CPA, is the Director of Accounting and Auditing Publications at the American Institute of Certified Public Accountants (AICPA). Amy is responsible for the development and maintenance of the AICPA accounting and auditing publications including over 60 annual editions in the following product lines: the Audit and Accounting Guides, Audit Risk Alerts, Checklists and Illustrative Financial Statements, Practice Aid Series, Accounting Trends and Techniques, and the Audit and Accounting Manual.

Amy holds a B.S. and a M.S. in Accounting from the University of North Carolina at Greensboro. Before joining the AICPA, Amy was a senior internal auditor at Duke University. Amy began her accounting career at Deloitte & Touche, LLP.

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Charles E. Landes (Chuck) is Vice President Professional Standards and Services Group for the AICPA. In this capacity, Chuck directs the technical activities of the Auditing Standards Board (ASB), and oversees the Accounting and Review Services Committee (ARSC), Accounting Standards Executive Committee (AcSEC) and the PCPS Technical Issues Committee (TIC). Team members help committees draft and deliberate authoritative professional standards and interpretations. Team members also develop non-authoritative professional guidance such as Auditing Practice Releases, Statements of Position (SOPs), Professional Issue Task Force Alerts, Technical Practice Aid Q&As and other forms of guidance on emerging issues. Chuck also serves as the AICPA’s representative to the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

Chuck is a former member of the Auditing Standards Board of the AICPA and was a member of the Audit Issues Task Force. He is a former chair of the AICPA's Peer Review Committee of the Private Companies Practice Section of the AICPA. He also served on the SEC Practice Section peer review committee as well as the AICPA Peer Review Board. Additionally, he is a past member of the board of directors of the Ohio Society of CPAs.

Prior to joining the AICPA in October 2000, Chuck served as partner in charge of the accounting and auditing practice of Barnes, Dennig & Co. a large local firm located in Cincinnati, Ohio. He began his public accounting experience with Ernst & Whinney (now known as Ernst & Young) and was also a member of KMG Main Hurdman.

Chuck is a graduate of Miami University with a B.S. in accounting. He received his M.B.A. from Bowling Green State University.

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Dan Noll, CPA, is director of accounting standards at the American Institute of Certified Public Accountants (AICPA). One of Dan’s primary responsibilities involves working with the Accounting Standards Executive Committee (AcSEC) in its development of external financial reporting standards and guidance. In addition, Dan leads the AICPA’s efforts related to private company financial reporting.

Dan’s previous AcSEC projects and efforts included: SOP 98-1, Accounting for the Costs of Computer Software Developed or Obtained for Internal Use; SOP 98-5, Reporting on the Costs of Start-Up Activities; SOP 00-2, Accounting by Producers or Distributors of Films; Practice Aid on purchased in-process research and development; and software revenue issues.

Dan has a B.B.A. in Public Accounting from Baruch College and was an evening adjunct professor at that institution. Before joining the AICPA, Dan was a manager in PricewaterhouseCooper's (formerly Coopers & Lybrand) New York and National Offices.

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Webcast-On-Demand System Requirements

Though AICPA Online Learning will operate in a variety of configurations, only the configuration described below is supported by our technicians:

• Microsoft Windows 2000 or XP operating systems, or later versions
• Macromedia Flash 6 or higher
• Adobe® Reader® 7 or higher
• One of the following browsers: 
  • Microsoft Internet Explorer 6 or higher 
  • Mozilla Firefox 1.5 or higher