Professional Excellence, Skepticism, and Objectivity

A widely held perception of accounting is that it’s the process of “bean counting.” This slide was developed by an American Accounting Association (AAA) task force.

The reality is that accounting plays a critical role in supporting a prosperous society. This slide was developed by an American Accounting Association (AAA) task force.

The “Pathways Vision Model” The Pathways Vision Model was developed by an American Accounting Association (AAA) task force.

The making of an IPO BanksManagement Audit CommitteeCustomers Investors The Auditor SEC / Regulators Initial Public Offering LinkedIn 7,840,000 Shares Common Stock Price $45.00 Per Share

Professional Excellence An unwavering and steadfast commitment to providing distinguished service to the investing public and the capital markets through the consistent execution of quality audits by adhering to professional standards and exercising sound professional judgment, objectivity and professional skepticism.

Skill + PROFESSIONAL MINDSET (WILL) Personal commitment Integrity Desire to “get it right” Professional skepticism Stands up to management Commitment to learning Teaches others / role model AUDITING SKILLS (SKILL) Expert in standards/ GAAP Judgment to properly apply them Skilled at project management Will

Professional skepticism requires a curious mind and persistence

Barriers to skepticism Challenging equivalent of our “parents”

Barriers to skepticism Time

Barriers to skepticism Fatigue

Barriers to skepticism Lack of skill or knowledge

Barriers to skepticism Desire to please

Barriers to skepticism Intimidation

Barriers to skepticism Budgets

Who’s counting on you

Questions?