• Review the changes in introductory auditing courses since adoption of Sarbanes-Oxley.
  Ray Whittington, DePaul University

• Review cases illustrating the need for professional skepticism.
• Illustrate tools available for classroom use.
• Identify areas from a practice standpoint where professional skepticism is particularly important.
• Identify areas from litigation where professional skepticism is found lacking.
• Brainstorm about how audit educators can instill the need for professional skepticism in their classes.

Independence & Objectivity
Session Objectives:

• Update on Deloitte’s teaching materials related to independence, objectivity, and skepticism.
• Illustrate tools available for classroom use.

Independence Videos, Cases and Game, provided by Deloitte, LLP and the University of Illinois Center for Professional Responsibility in Business and Society
Mark Peecher, University of Illinois
Mark Chain, Deloitte, LLP

The Effects of Adoption of IFRS on Auditing Education
Session Objectives:

• Identify the major differences between IFRS and U. S. GAAP that have audit implications.
• Describe the practice implications of the adoption of IFRS.
• Brainstorm about how audit courses should be altered to prepare students to perform audits using IFRS.

Panel Members:
William Kinney, University of Texas
John Brozovsky, Virginia Tech University
Michael J. Fischer, Ernst & Young LLP

Moderator:
Mark Taylor, Creighton University

Auditing Items Valued at Fair Value
Session Objectives:

• Understand the audit implications of valuation of financial statement items at fair value.
• Understand how auditors use an appraisal report of a specialist.
• Illustrate tools available for classroom use.

MMN Builders, Inc., Impairment Analysis for Goodwill
Jonathan Isler, PricewaterhouseCoopers, LLP