CPAs representing the New York State Society of Certified Public Accountants (NYSSCPA) voted against a resolution supporting the controversial global credential at the Fall Meeting of the American Institute of Certified Public Accountants (AICPA) Council here.
A rare written ballot was approved 157 to 62 by those Council members voting of 265 total Council members, giving the green light to a general membership vote at the end of October that will decide the fate of the controversial designation.
"NY CPAs voted against the resolution loudly and clearly because our members oppose this credential," said Nancy Newman-Limata, NYSSCPA President.
"They want their national professional organization to support the CPA credential, not empower their competitors. However, we support strongly bringing the issue to the membership for a final resolution. We are urging CPAs to save the CPA designation and vote no as the AICPA vote goes to its full membership."
NYSSCPA surveyed its membership earlier in the year and later hosted AICPA educational meetings on the global credential in each of its 17 chapters. "Our CPA members have continuously said the global credential is
unnecessary because CPAs are already providing numerous nontraditional services, especially strategic planning services, to the public and have already gained market permission to offer these services. The CPA designation has already proven to be stretchable," Newman-Limata said.
CPA societies in Illinois, Massachusetts, Vermont, Nebraska, Connecticut,New Jersey, North Carolina, Greater Washington have also formally opposed the credential as well as PricewaterhouseCoopers and BDO Seidman.