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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.
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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 Initial Public Offering LinkedIn 7,840,000 SharesCommon StockPrice $45.00 Per Share Investors The Auditor SEC / Regulators Audit Committee Customers
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.
+ Will Skill • AUDITING SKILLS (SKILL) • Expert in standards/GAAP • Judgment to properly apply them • Skilled at project management • PROFESSIONAL MINDSET (WILL) • Personal commitment • Integrity • Desire to “get it right” • Professional skepticism • Stands up to management • Commitment to learning • Teaches others / role model
Professional skepticism requires a curious mind and persistence
Barriers to skepticism Challenging equivalent of our “parents”
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