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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
Banks Management
Audit Committee Customers
Investors The Auditor SEC / Regulators
Initial Public OfferingLinkedIn7,840,000 SharesCommon StockPrice $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?