Skrypek, Daniel J. - Lino Lakes, MN

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Skrypek’s AICPA membership was terminated, effective April 30, 2012, in connection with the Securities and Exchange Commission’s disciplinary action. Specifically, the SEC suspended Mr. Skrypek from appearing or practicing before the Commission as an accountant with the right to apply for reinstatement after five years of the effective date of the SEC’s Order. This decision was based on allegations, among other things, that Mr. Skrypek participated in a course of conduct which resulted in a public registrant filing materially false and misleading financial statements in the company’s annual reports on Form 10-K for the fiscal years ended 2000 through 2003, and in the company’s quarterly reports for all four quarters in fiscal years 2000 through 2003, and the first three quarters of fiscal year 2004; for facilitating the public registrant’s engaging in improper accounting practices that materially increased its pre-tax income, which was a departure from Generally Accepted Accounting Principles, including improperly capitalizing expenses; failing to ensure the disclosure of two related party transactions involving the company’s Chief Executive Officer and a series of related party transactions in which the company’s Chief Financial Officer was involved; for signing management representation letters on behalf of the company that provided false and misleading information to the auditors concerning the company’s financial statements; and for his involvement in drafting proxy statements that materially understated the compensation of the company’s Chief Executive Officer and Chief Financial Officer.