（2008）Assurance in a Real Time Economy.pdfVIP

Assurance in a Real Time Economy Alan Anderson, CPA aanderson@ Chair – AICPA Assurance Services Executive Committee Managing Principal – Assurance Services At LarsonAllen, LLP. Agenda • Our Instant Gratification Culture • The Current Reporting Model • Conceptual Framework • Assurance Services Executive Committee (ASEC) • How Do We Move This Forward? Our Instant Gratification Culture Consider the following: • Does anyone talk “face to face” anymore? • Do you sit and relax and enjoy a meal? • Who in the room doesn’t have a cell phone? • When was the last time you read a historical financial statement to make a decision? Is Real Time Economy Already Here? Consider the following: • How do you make decisions on investment performance? • Do CFOs wait for month-end financial statements to inform their CEO what is going in the business? • What information is used by stock analysts to make “buy” or “sell” decisions? • What happens to a stock price when a company misses the “consensus earning estimate”? • Why does the SEC place so much emphasis on “forward looking information”? ! ! ! E R E H Y ? D y A m E o R n L o A c E S