The 2009 AICPA National Conference on Current SEC and PCAOB Developments held on December 7 - 9, 2009 in Washington D.C. brought together regulators, standard setters, auditors, preparers and users of financial statements, and other constituencies in a discussion of the current issues and hot topics in financial reporting. The highlights provide Duff & Phelps' observations on the key valuation takeaways that affect fair value measurements, impairments and disclosures, and other related topics.