AICPA Council Members voted at the Spring Council meeting to proceed with the new Internet portal project, called 'cpa2biz.com.' The portal will be set up as a separate, publicly traded business, and already has received $107 million in start-up venture capital funding.
Plans for the portal include offering business services for the profession, including CPE training, a national directory of firms, and information on technical topics. Long-range efforts are planned in the e-Commerce arena for the site - those in which CPAs might want to pass on to their clients.
A 1.6% equity ownership will be set aside for Barry Melancon and key AICPA personnel instrumental in the development of the portal.
Initial investors include Microsoft, Intelisys; Thomson Corp., ADP and Aon Corp.
AICPA membership that we have talked to have mixed reactions on the Internet portal, so the Institute will still have a big PR effort ahead of it to win over support of the rank and file.
What do you think? Vote in our interactive poll now and tell us what you think about the development of the AICPA Internet portal.
Editors note: AccountingWEB applauds this move by the AICPA and congratulates the Council for taking such a bold step. What does this mean for the future of AccountingWEB and the other accounting related portals that exist today? Speaking for AccountingWEB only, I welcome this move as it will raise the level of awareness about the Internet to all of the profession. There is always room for competition, and always room for cooperation. Colors come in different shades, food comes in different flavors, and professional resources come in different packages. We look forward to continuing to build AccountingWEB into an extremely powerful resource for the profession, and open our arms to the new kids on the block.