Case 1: United Continental Holdings, Inc.

1. (a.) Identify overall corporate objectives of United Continental Holdings and strategies implemented to achieve those objectives. (b.) Identify the strategic risks that potentially could impede United Continental Holdings from achieving each objective.

2. As part of their entity level controls United Continental Holdings strives for effective executive leadership and strong corporate governance, including the Board of Directors and its committees.

(a.) Describe the structure and titles of the executive leadership team and the composition of the Board of Directors (include their background and the committees on which they serve within the Board of Directors). (b.) In addition, assess the Companys commitment to strong corporate governance and diversity within its leadership structure and make any recommendations you would have as to the composition of the executive leadership team of the Board of Directors.

3. Risk assessment also occurs at the financial statement level. Identify what you consider to be significant accounting policy areas for United Continental Holdings.

4. For the significant accounting issue of Passenger Revenue Recognition (a.) describe the Companys accounting treatment and (b.) note the significant estimates and judgments that management must make in applying appropriate accounting standards. (There is no need to reference specific technical standards in your presentation).

[To best understand and respond to the above questions, we recommend that you first think through the overall business model of United Continental Holdings, including its targeted customers, products and/or services, markets, key business processes (internal allocation of resources), key alliance relationships (partnerships with external organizations), and external forces that impact the companys ability to meet its strategic objectives. Note that this information is NOT to be presented to the audit committee.]