The Impact of the Accounting Profession's Movement toward Fair Value Reporting in Financial Statements: An Interview with Theresa Ahlstrom, Long Island Office Managing Partner, KPMG LLP

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KPMG LLP, the audit, tax and advisory firm, turns knowledge into value for the benefit of its clients, people, communities and the capital markets. Its professionals work together to provide clients access to global support, industry insights, and a multidisciplinary range of services. KPMG LLP (www.us.kpmg.com) is the U.S. member firm of KPMG International. In 1993, KPMG International was the first multidisciplinary professional services organization to establish itself along industry-specific lines of business. This enabled KPMG to tailor services and strategies to the needs of clients across a range of global industry markets. KPMG International's member firms have 103,000 professionals, including 6,700 partners, in 144 countries.

Theresa P. Ahlstrom is KPMG's Long Island Office Managing Partner and the Northeast Audit Quality Support Partner, supporting the Northeast Audit Area Risk Management Partner, and playing a key role in the development and execution of the area's quality enhancement initiatives. She started her career at KPMG, LLP, in 1982 as a pre-professional in the firm's National Department of Professional Practice (DPP), and joined the audit professional staff of the Long Island office in 1983. In 1993, after a two-year rotation in DPP and the Office of General Counsel, she was admitted into the partnership.

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Ms. Ahlstrom has served as lead engagement partner for numerous clients in the healthcare, biotech, consumer and industrial market, and non-profit industries. Because of her technical experience and client service record, she was designated an SEC Reviewing Partner, Professional Practice Partner, Employee Benefit Resource Partner, Primary Campus Recruiter, and National Training Instructor.

Graduating …