Audit Committee Evolving Trends

On February 11, 2009, Foley & Lardner LLP presented “Audit Committee Evolving Trends” as part
of its National Directors Institute — Web Conference Series. The panel was moderated by Foley
Partners Arthur H. (Art) Bill and Mark T. Plichta, and included panelists Richard Herlin of Deloitte
& Touche LLP, Isaac Kaufman of Advanced Medical Management, and Cheryl Mayberry McKissack of Nia Enterprises, LLC. The panel discussed (1) the impact of and lessons learned from the current financial crisis; (2) the potential adoption of International Financial Reporting Standards (IFRS) by U.S. companies, including the SEC’s proposed roadmap to adoption; and (3) the SEC’s initiative to require financial statements to be filed using interactive data, also known as extensible business reporting language (XBRL).

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