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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormalCxSpFirst align=center style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:center'><span class=bodytag1><span style='font-size:10.0pt'>A NASACT Training Webinar<o:p></o:p></span></span></p><p class=MsoNormalCxSpLast align=center style='mso-margin-top-alt:auto;margin-bottom:6.0pt;text-align:center'><span class=subheaders1><span style='font-size:10.0pt'>Clarifying the Clarity Standards: An Overview<o:p></o:p></span></span></p><p align=center style='mso-margin-top-alt:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center'><span class=bodytag1><span style='font-size:10.0pt'>Wednesday, February 29, 2012</span></span><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><br><span class=bodytag1>11:00 AM – 1:00 PM<o:p></o:p></span></span></p><p class=bodytag style='mso-margin-top-alt:6.0pt;margin-right:0in;margin-bottom:6.0pt;margin-left:0in'><span style='font-size:10.0pt'>The State Controller’s Division (SCD) will host a webinar sponsored by NASACT in conjunction with the Association of Government Accountants and the Association of Local Government Auditors.</span><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:6.0pt;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>It has been years in the making, but with the issuance of SAS No. 122, S<i>tatements on Auditing Standards: Clarification and Recodification</i>, the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants completed a major portion of its “Clarity Project.”<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:6.0pt;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>SAS No. 122 (also known as the “Super SAS”) brings together and codifies 39 clarified SASs that the ASB had finalized, but had not issued, during the past three years. Because the Clarity Project spanned several years, some of the earlier clarified standards needed to be updated to reflect, among other things, amendments to certain SASs and changes in SAS titles, terminology, and formatting that were introduced towards the latter part of the project. In preparation for SAS No. 122, the clarified SASs were reviewed and fine-tuned to identify and eliminate inconsistencies and to verify cross-references.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:6.0pt;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>SAS No. 122 also adds a preface to the Codification of Statements on Auditing Standards titled, <i>Principles Underlying an Audit Conducted in Accordance With Generally Accepted Auditing Standards. </i>These principles provide a framework that is helpful in understanding and explaining an audit. Further, these principles address the purpose of an audit, the personal responsibilities of the auditor, the auditor’s actions in performing an audit, and auditor reporting. <o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:6.0pt;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;line-height:10.1pt'><u><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>This webinar, the first of a two-part series on the clarity standards, will provide an overview on</span></u><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>:<o:p></o:p></span></p><ul style='margin-top:0in' type=disc><li class=MsoNormal style='color:black;margin-top:6.0pt;mso-margin-bottom-alt:auto;line-height:10.1pt;mso-list:l0 level1 lfo1'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Which standards changed?<o:p></o:p></span></li><li class=MsoNormal style='color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt;mso-list:l0 level1 lfo1'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Which standards are still being worked on?<o:p></o:p></span></li><li class=MsoNormal style='color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt;mso-list:l0 level1 lfo1'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>How much is different? <o:p></o:p></span></li><li class=MsoNormal style='color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt;mso-list:l0 level1 lfo1'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>How will the new standards affect my audits?<o:p></o:p></span></li><li class=MsoNormal style='color:black;mso-margin-top-alt:auto;margin-bottom:6.0pt;line-height:10.1pt;mso-list:l0 level1 lfo1'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>What do I need to know now? <o:p></o:p></span></li></ul><p class=MsoNormal style='margin-top:6.0pt;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Join Randy C. Roberts, Professional Practice Director for the Arizona Office of the Auditor General, for this informative two-hour training session. Randy served as a member of the Auditing Standards Board from 2008 through 2010 during the majority of the deliberations of the Clarity Project. He has served, and continues to serve, on various AICPA task forces.<o:p></o:p></span></p><p class=MsoNormal style='margin-top:6.0pt;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse'><tr style='height:23.65pt'><td width=85 valign=top style='width:63.9pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Date:<o:p></o:p></span></b></p></td><td width=18 valign=top style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal align=center style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:center;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p></td><td width=535 valign=top style='width:401.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Wednesday, February 29, 2012<o:p></o:p></span></p></td></tr><tr style='height:23.65pt'><td width=85 valign=top style='width:63.9pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Time:<o:p></o:p></span></b></p></td><td width=18 valign=top style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal align=center style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:center;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p></td><td width=535 valign=top style='width:401.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>11:00 AM – 1:00 PM<o:p></o:p></span></p></td></tr><tr style='height:23.65pt'><td width=85 valign=top style='width:63.9pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Location:<o:p></o:p></span></b></p></td><td width=18 valign=top style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal align=center style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:center;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p></td><td width=535 valign=top style='width:401.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Veterans’ Auditorium<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>700 Summer St NE Salem OR.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>(Reminder – no food is allowed in the auditorium)<o:p></o:p></span></p></td></tr><tr style='height:23.65pt'><td width=85 valign=top style='width:63.9pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>CPE:<o:p></o:p></span></b></p></td><td width=18 valign=top style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal align=center style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:center;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p></td><td width=535 valign=top style='width:401.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Two credits<o:p></o:p></span></p></td></tr><tr style='height:23.65pt'><td width=85 valign=top style='width:63.9pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Cost:<o:p></o:p></span></b></p></td><td width=18 valign=top style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal align=center style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:center;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p></td><td width=535 valign=top style='width:401.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Free (hosted by SCD)<o:p></o:p></span></p></td></tr><tr style='height:21.15pt'><td width=85 valign=top style='width:63.9pt;padding:0in 5.4pt 0in 5.4pt;height:21.15pt'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Register:<o:p></o:p></span></b></p></td><td width=18 valign=top style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:21.15pt'><p class=MsoNormal align=center style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:center;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p></td><td width=535 valign=top style='width:401.4pt;padding:0in 5.4pt 0in 5.4pt;height:21.15pt'><p class=MsoNormal style='margin-bottom:6.0pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><a href="https://ilearn.oregon.gov/Kview/CustomCodeBehind/Base/Login/Login.aspx">https://ilearn.oregon.gov/Kview/CustomCodeBehind/Base/Login/Login.aspx</a><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:6.0pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>(Keyword: NASACT)<o:p></o:p></span></p></td></tr><tr style='height:23.65pt'><td width=85 valign=top style='width:63.9pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Materials:<o:p></o:p></span></b></p></td><td width=18 valign=top style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal align=center style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:center;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p></td><td width=535 valign=top style='width:401.4pt;padding:0in 5.4pt 0in 5.4pt;height:23.65pt'><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:10.1pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>Materials will be emailed to registered participants before the webinar. Participants should print a copy of the materials to bring with them.<o:p></o:p></span></p></td></tr></table><p class=MsoNormal><span style='font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><b><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#353535'>Kathryn Ross</span></b><span style='font-size:8.0pt'><o:p></o:p></span></p><p class=MsoNormal><b><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#353535'>Statewide Accounting & Reporting Manager</span></b><span style='font-size:8.0pt'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#353535'>Oregon State Controller's Division</span><span style='font-size:8.0pt'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#353535'>155 Cottage Street NE, U-50</span><span style='font-size:8.0pt'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#353535'>Salem, OR 97301</span><span style='font-size:8.0pt'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:red'>NEW Phone: (503) 373-0265</span><span style='font-size:8.0pt;color:red'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#353535'>Fax: (503) 378-3514</span><span style='font-size:8.0pt'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif"'><a href="http://oregon.gov/DAS/SCD/SARS"><span style='color:blue'>http://oregon.gov/DAS/SCD/SARS</span></a></span><span style='font-size:8.0pt'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt'> <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#353535'>Data Classification: Level 1 - Published</span><span style='font-size:8.0pt'><o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>