Pratt, Wayne A. - Chandler, AZ

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Pratt’s AICPA membership was terminated, effective February 17, 2012, in connection with the Securities and Exchange Commission’s disciplinary action. Specifically, the SEC suspended Mr. Pratt from appearing or practicing before the Commission as an accountant. This decision was based on allegations that while serving as CFO from at least November 2005 through September 2007, Mr. Pratt ignored red flags of improper revenue recognition and participated in preparing backdated documentation that was provided to the “Company’s” auditors to support fictitious fiscal 2006 year-end sales; ignored indications of impaired assets, agency sales, and potential collectability issues; and for allegedly signing management representation letters for the “Company’s” auditors that contained materially false and misleading statements.