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MEDIA CONTACT: Lisa Freed
561-297-3022, lfreed@fau.edu

Ernst & Young Develops Unique Business Course for FAU

                BOCA RATON, FL (April 9, 2009) – Ernst & Young LLP’s Insurance and Actuarial Advisory Services group recently assisted Florida Atlantic University in the development of a three-credit insurance accounting course for students of FAU’s Barry Kaye College of Business. The Global Insurance Accounting course is a DVD-based, 13-class lecture series, the content for which was written and presented by Ernst & Young professionals.  The class is proctored by Dr. Mark Kohlbeck, professor of accounting at FAU.

“We are happy to contribute to the education of future actuaries, accountants and risk managers by sharing our first-hand experience with regard to the numerous implications of changing global insurance accounting and actuarial standards,” said Doug French, Principal, Ernst & Young LLP and the firm’s Insurance and Actuarial Advisory Services Leader. “Florida Atlantic University should be commended for taking such a global approach to offering its students insight and thought leadership around such an important and evolving issue.”

             Every new chapter on each of the 13 DVDs features the teachings of a different business professional from Ernst & Young LLP. The course is designed to provide an overview of the global life and property/casualty insurance industry. It also focuses on International Financial Reporting Standards (IFRS), Generally Accepted Accounting Principles (GAAP) and Statutory Accounting Principles (SAP).  

            “This is a shining example of the cooperation of academia and private industry,” said Dr. Dennis Coates, Dean of the College of Business. “There is no university that could possibly assemble the knowledge represented by Ernst & Young in this course. This is a huge benefit to FAU’s business faculty and students.”

            Global Insurance Accounting is offered to finance, risk management and insurance students, as well as international business and economic students.   It will also be offered to accounting students as an elective in the Spring 2010 semester.

            For more information, contact Cecelia Kempler, Director and Instructor within FAU’s Barry Kaye School of Finance, Insurance & Economics, at 561-297-4180 or ckempler@fau.edu.

-FAU-

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. For more information, please visitwww.ey.com.

Ernst & Young’s North American Insurance and Actuarial Advisory Services (IAAS) practice includes 175 professional staff throughout the United States, Mexico, Bermuda and Canada. IAAS helps clients address risk, reporting, capital management, merger and acquisition due diligence and integration, retirement income and actuarial department transformation issues, and provides insurance risk management and claims advisory services. www.ey.com/us/actuarial .

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity.

About Florida Atlantic University

Florida Atlantic University opened its doors in 1964 as the fifth public university in Florida. Today, the University serv es more than 26,000 undergraduate and graduate students on seven campuses strategically located along 150 miles of Florida's southeastern coastline. Building on its rich tradition as a teaching university, with a world-class faculty, FAU hosts ten colleges:  College of Architecture, Urban & Public Affairs, Dorothy F. Schmidt College of Arts & Letters, the Charles E. Schmidt College of Biomedical Science, the Barry Kaye College of Business, the College of  Education, the College of  Engineering & Computer Science, the Harriet L. Wilkes Honors College, the Graduate College,   the Christine E. Lynn College of Nursing and the Charles E. Schmidt College of Science.  

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